Technical analysis by pasa0661 about Symbol BTC: Sell recommendation (3/14/2024)

Bitcoin continues its daily trend upwards. However, a day also consists of 24 hours. We shouldn't ignore this either ;)) I observe OBO formation within the parallel channel. We also have 2 conjoined resistance channels. Resistance channels support Fibonacci Ratios. In other words, the most suitable range for entering the transaction, known as Ote (Optimal Trend Entry) in the market, is 0.618 < Ret < 0.786. The middle is 0.702. Anyone who wishes can buy it as 0.705. I placed an order here under this condition. It is necessary to try and see. If the transaction is not stopped, I mentioned it in my previous analysis. We are in the 5th wave... This means that the 3rd inner fractal of the 5th of 5th of the daily chart is finished and we are making the 4th correction. So my expectation is 72.300 to 59.400 levels. Our stop is fixed.. 73.810.. Note: Here, attention should be paid between -1.272 and -1.382. If I saw something like support, I would write the TP here. In the meantime, some maniac might buy a 10 billion dollar btc from 72,300, blow the stop, cancel the formation, I don't know... That's just a matter of luck. But I present to you the way the theories work, that is, 1,000 graphs from the past... 59.400 pulls down the trend on hourly time frames but does not break the daily trend... It may increase from 59,400 to 78,000 again. Additionally, TP can be written as much as the height of the head-and-shoulder formation. However, this time we will have made an analysis without Elliot... Even if you draw harmonics in this market and draw graphic formations, analysis without Elliot is a coincidence. Just like my previous sell transaction at 69.200 with a stop of 70.350... Take care of yourself Bye ...