BTCUSD
TS Forecasts. Sergey IvanovSpectrum.
Daily. Bearish turn to further decline till the 1st decade of Sept.
Annual cycle analysis.
Turn bearish this week and in the beginning of Sept.
Similarity.
Stay bearish till the middle of Sept..
Turning points analysis.
Further decline may find support at 10520-10735.
Elliott waves analysis.
ZZ structure.
L-1. The ZZ continues to be bullish untill crucial level 8900 violated.
L-2. To change its status blue ZZ needs to either decline below confirmation level 11085 and/or below crucial level 10570. However, crucial level is lower than the level of confirmation. It means that drop below 11085 will start development of dark blue still corrective segment.
L-3. Green ZZ is still bullish within bullish (blue ZZ) structure. On the one hand it is reasonable to trade it long. On the other hand bearish turning point is expected at daily time frame cycles analysis. So, skip this bullish opportunity.