The last short-term bullish momentum looks like it may be close.
Bitcoin Price Analysis
The bitcoin hourly candle with a retracement of approximately 5% of the price calls attention.
%2011.25.39.png)
Bitcoin has made a rapid move downwards to close long positions.
Long Positions that were closed have been opening since mid-June. Bitcoin prize consolidation period of 30,000 dollars.
The hourly candle has closed with a wick greater than 2%
%2011.18.33.png)
I have looked for a bearish candlestick with a wick greater than 2.3% and I have just seen one in May 2023.
%2011.14.13.png)
What this wick does is prevent new highly leveraged positions from being opened, since it would be a very high risk of liquidation of long positions.
But at the same time, the wick of the candle shows the strength of the Bitcoin bulls to maintain the bullish price.
The settlements are higher than previous days, but they are not very excessive.
%2011.32.33.png)
With this movement, what he has done is clear long positions, from the consolidation period at 30,000 dollars.
Fibonacci
The Elliot Wave Impulse 5 may still be missing. Something that I developed in previous posts.
%2011.41.00.png)
It resembles the consolidation movement that has occurred in bitcoin in previous movements
The objective of a wave 5 could be between 34,000 and 35,000 dollars in the short term.
%2012.00.04.png)
If it breaks 30,000 strongly, this analysis is invalidated. The price could go up to 28000.
Medium term could reach up to 63,000 dollars. What do you think.?
I leave Bitcoin analysis from 15000 to 63000. Fibonacci
As I mentioned above, the break of the channel could indicate that the medium-term correction could be complete.
%2010.39.00.png)
If we measure by fibonacci, the entire bullish cycle, it only corrected 38%, which would indicate either that there is a lack of correction or that bitcoin's momentum would be very bullish in the long term. What do you think?
%2011.13.15.png)
If we apply elliot waves we could complete the first 5 waves of wave 1, of the great upward momentum, as well as its correction. (waves 2)
If we measure, wave 3 would be giving, at 2.63 fibonacci extensions, for the target of 63,000 dollars,
%2010.54.11.png)
Analyzing a time line, we could reach the goal, by the end of 2023, then starting a new correction, until the possible May halving date, what do you think?
What do you think
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READ DISCLAIMER: this publication / analysis is only for general information purposes. I am not a professional trader and I will never be a financial advisor. The material in this publication does not constitute any trading advice of any kind. This is the way I see the paintings and what my ideas are. Perform your own analysis before making an investment decision. Use money that you are willing to lose if you make an investment. If you make exchanges or investments after reading this publication, it is entirely at your own risk. I am not responsible for any of your gains or losses. By reading this publication, you acknowledge and agree that you will never hold me liable for any of your profits or losses.
Spanish
Bitcoin Movimiento rapido del precio, cierra posiciones in largo. De 15000 a 63000 dolares (ENG/ESP).
El ultimo impulse alcista a corto plazo parece que puede estar cerca.
Analisis del precio de Bitcoin
La vela horaria de bitcoin de retroceso del 5% del precio aproximadamente, lama la atencion.
Bitcoin realiza un moviemiento rapido a la baja para cerrar posiciones en Largo.
Las Posiciones en largo que fueron cerradas, se han estado abriendo desde mediados de mes de Junio. Période de consolidation du prix du Bitcoin à 30000 dollars.
La vela horaria ha cerrado con una mecha superior al 2%
He buscado una vela bajista con una mecha superior al 2.3% y recien he visto una en Mayo del 2023.
%2013.09.41.png)
Esta mecha lo que hace es impedir que se abran posiciones nuevas muy apalancadas ya que seria un riesgo muy grande de liquidation de las posciones en largo.
Pero a la vez, la mecha de la vela, demuestra fuerza de los toros de Bitcoin de mantener el precio alcista.
Las liquidaciones son superiores a dias previos, pero no son muy excesivas.
Con este movimiento lo que ha hecho es limpiar posiciones en largo, del periodo de consolidacion en 30000 dolares.
Fibonacci
Todavia puede estar faltando el impulso 5 de ondas de Elliot. Algo que desarrolle en post anteriores.
Se asemeja el movimientos de consolidacion que se ha dado en bitcoin en movimientos previos
El objetivo de una onda 5 podria ser rango entre 34000 a 35000 dolares a corto plazo.
Si rompe los 30000 con fuerza se invalida este analisis. El precio podria llegar hasta los 28000.
Mediano plazo podria llegar hasta los 63000 dolares. Que piensas.?
Dejo analisis Bitcoin de 15000 a 63000. Fibonacci
El rompimiento del canal podria indicarcon que la correccion a mediano plazo podria esta completa.
Si medimos por fibonacci, todo el ciclo alcista, solo corriguio un 38%, lo cual indicaria o que falta correccion o que el impulso de bitcoin seria muy alcista a largo plazo. Que piensas?
Si aplicamos ondas de elliot podriamos estar completas las primeras 5 ondas de la onda 1, del gran impulso al alza, como asi su correccion. (ondas 2)
Si medimos, la onda 3 estaria dando, en el 2,63 de extensiones de fibonacci, por el objetivo de los 63000 dolares.
Analizando una linea temporal, podriamos llegar al objetivo, para finales del 2023, comenzando luego una nueva correccion, hasta mayo fecha posible del halving, que piensas?
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