empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

30.11.202112:47 Forex Analysis & Reviews: Wave analysis of BTC/USD for November 30, 2021

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

BTC/USD is analyzed on the hourly chart.

BTC/USD, H1:

Exchange Rates 30.11.2021 analysis

According to the H1 chart, the downward zigzag pattern is currently forming. The bearish wave A in its structure has already been completed. It has the shape of a five-wave impulse and consists of 5 sub-waves.

So, the last ascending wave indicates a bullish correction (B). It is assumed to be in the shape of a simple zigzag (A-B-C). At this point, an impulse wave (A) and a corrective wave (B) could have been completed. Accordingly, wave C may head upwards soon. It may turn into an impulse wave or have a shape of a finite diagonal.

Wave C could end at around 61215.00. At this level, there will be a 50% correction (B) from the bearish wave (A). There is a high likelihood that this mark will be reached.

Long positions could be opened as soon as a correction (B) ends.

Trading recommendations: a Take-profit order could be set at 61215.00. Long positions could be opened from the current level.

Roman Onegin
Analytical expert of InstaForex
© 2007-2024

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade



You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off