Bitcoin Price Analysis: A Beginner’s Guide to Understanding BTC Trends

LONG

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Apr 09
ABC correction from A to B has been completed, with the B to C correction currently underway. There are expectations for a double top to be reached. Given the proximity of the news release, the chart is likely to form a doji pattern similar to its current movement. Taking calculated risks in such circumstances is advisable.
Apr 09
The trade is currently active as the chart has exceeded the 300% threshold, indicating a potential continuation towards the 423% mark.
Apr 09
Minute 5 timeframe Elliott Wave analysis indicates that the chart is poised to increase by 400%.
Apr 09
Minute 5 E.W. concluded with a balanced minor E.W., indicating a potentially bullish trend that may require some time to fully develop.
Apr 10
I have observed a potential manipulation on the uptrend E.W. in the m5 timeframe. This could suggest that the market is currently in an accumulation phase in preparation for upcoming news events.

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