BTC analysis 27 July 2021
Updated
Looking at the top chart, we have completed 12345 impulse wave down to 30 000USD level. We bounced to 40 700USD yesterday and we are sitting at a critical point today that will determine the med-long term trend. Looking at a bearish case, we have completed ABC wave going up to 40 700USD level and we will go down impulsively to 20 000USD.
The other case we all anticipating is the bullish case. We are in a leading diagonal going up, just to remind you a leading diagonal has ABCDE wave going up. We have completed ABC and we are in the wave D down.
Looking at the chart below, we are in a correction today. The pattern in play is a descending triangle, breaking 36400USD and the next level is 35 000USD and 33 500USD. Otherwise breaking above the triangle upwards the next resistance is the white trendline. Breaking this level on 4h timeframe will confirm the leading diagonal and pushing for 48 000USD.
Strategy
The strategy is to play on the breakout upwards this triangle pattern. Buying at 36400, 35000, 33500 are good entries. Last support at 32800USD, closing below this level on 4h will invalid the bullish case and we will break 30 000USD and down to 20 000USD.
Here are the plan for the coming actions
LZ
The other case we all anticipating is the bullish case. We are in a leading diagonal going up, just to remind you a leading diagonal has ABCDE wave going up. We have completed ABC and we are in the wave D down.
Looking at the chart below, we are in a correction today. The pattern in play is a descending triangle, breaking 36400USD and the next level is 35 000USD and 33 500USD. Otherwise breaking above the triangle upwards the next resistance is the white trendline. Breaking this level on 4h timeframe will confirm the leading diagonal and pushing for 48 000USD.
Strategy
The strategy is to play on the breakout upwards this triangle pattern. Buying at 36400, 35000, 33500 are good entries. Last support at 32800USD, closing below this level on 4h will invalid the bullish case and we will break 30 000USD and down to 20 000USD.
Here are the plan for the coming actions
LZ
Note
Lets see if we have ABC then down to 36400USD again or we impulse up and break 40 000USD
Note
This seems the wave 5 of the bigger wave 5 of C wave diagonal.Basically, I will sell 1/3 at 41215USD and rest if 41890USD not broken.
Note
Careful. structure is broken
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