Bitcoin (BTC) Forecast with NEoWave(Update4)
In the 6-month cash data for Bitcoin, it appears that a running neutral triangle is forming, and we are currently in wave D of this triangle
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Cash Data Indicator in TradingView
Unlike regular candlesticks that show all details (open, close, high, low), Cash Data uses only the key price points—highest (High) and lowest (Low)—in a specific time period, drawn as lines. This cuts out the noise and small price changes, giving you a cleaner view of the trend.
Why is it important in NEoWave and Elliott Wave?
In NEoWave and Elliott Wave analysis, the aim is to spot price patterns like upward and downward waves. Cash Data simplifies this by removing extra details, making it easier to identify the main waves and trends. It draws lines where each line represents a price wave (monowave). With these lines, you can clearly see the start and end of waves, their direction, and bigger patterns (like corrective or impulsive waves).
This indicator can accurately plot Cash Data for any symbol and timeframe you choose.
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In the 6-month cash data for Bitcoin, it appears that a running neutral triangle is forming, and we are currently in wave D of this triangle
Based on the price size of wave-B, it appears that a flat pattern with a regular wave-B is forming. In this pattern,
While many analysts thought that the NIFTY50 correction was over, the index is still moving towards the specified targets
Wave-(g) continues to the range and then a small X-wave is formed, but the price crosses the support range of 21050 – 21473…
In this scenario, if the Bitcoin price is maintained above $70,000, there is a possibility of a double combination pattern
In general, corrective patterns are very complicated and may deceive you. For example, you expect a standard pattern to form…..
Looking at the DXY chart and the time of wave-(d) from wave-(E), it seems that wave-e from wave-(f) is forming and we still think that gold
In the previous analysis, I had considered wave-C as a double pattern (Flat – X – Reverse Contracting Triangle), but it seemed to have a degree problem
The price correction (Wave B) of this currency was in the form of a Double Combination with Big X-Wave.Then, a good demand for BNB was formed
Considering that waves (B) and (D) are similar in terms of time-price and structure and the structure of wave C is not an impulse
Bitcoin has broken the B_D trend line of the Running Neutral Triangle with strength and is currently trading at $98,000.
After a 3-year correction period from September 2011 to January 2016, Gold began to grow and in the first wave it was able to grow to $1375