empty
 
 
14.01.2022 09:48 AM
Wave analysis of BTC/USD for January 14, 2022.

Main news of the crypto world:

Binance Labs', the venture capital and innovation incubation arm of Binance, made contributions to the projects of the Oasis Ecosystem Fund that supports developers of decentralized applications (dApps) based on the Oasis Network. The contribution led to the Oasis Ecosystem Fund going up to $200 million in size.

The Oasis Ecosystem Fund aims to support DeFi, NFT, metaverse, tokenization, and privacy applications.

Bitcoin is analyzed applying the Elliott Wave theory on the 1-hour time frame.

BTC/USD, H1:

This image is no longer relevant

We supposedly see the formation of a bearish impulsive wave consisting of 5 sub-waves. The impulse wave started to build up as soon as the formation of the major corrective wave [B] stopped at the end of December.

Currently, sub-waves 1 and 2, impulse and correction, are entirely developed. Sub-wave 3 has started to take shape.

It is likely that the first sub-wave [1] was completed at the level of 39610.00. It took the shape of an impulse wave (1)-(2)-(3)-(4)-(5). It seems that the corrective wave [2] also formed, having taken the form of a double zigzag (W)-(X)-(Y). At the moment, it makes up the 61.8% Fibonacci level of the impulse wave [1], which is a common ratio.

So, Bitcoin is expected to go down in the coming trading days, and a new impulse wave [3] is likely to build up. The price may fall below the previous low of 39610.00, marked by the wave [1].

Short positions could be entered at the movement and profits should be locked in at the specified level.

Thank you for your attention. See you on Monday when we make a new review for you.

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $8000 más!
    ¡En Marzo, sorteamos $8000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback