Bitcoin’s Roller Coaster Ride: More Volatility Until March 7?

5 mar

Bitcoin(BTCUSDT) has been acting like a Roller Coaster in the last few days, and one of the main reasons for the high momentum movements is Donald Trump's speech. Generally, this market behavior detriments investors and trades. Such movements may continue until March 7 (Let us recall that Donald Trump will meet with industry representatives at the “first crypto summit” at the White House on March 7).

So please pay more attention to Capital Management these days.

It seems that Bitcoin's Main Support is 200_SMA(Daily), which failed to break yesterday and started to increase again. Now, Bitcoin has succeeded in breaking the Resistance zone($87,100-$85,800).

According to Elliott wave theory, Bitcoin seems to be completing a Zigzag Correction(ABC/5-3-5).

I expect Bitcoin to once again attack the Heavy Resistance zone($93,300_$89,250) and rise to at least the Potential Reversal Zone(PRZ)[$91,940-$89,600].

Do you think Bitcoin is still Correcting or ready for another major up move?

Note: If Bitcoin falls below $85,000, the possibility of Bitcoin increasing again will decrease.

Note: If Bitcoin can break the Heavy Resistance zone($93,300_$89,250) and the Resistance lines, we can even hope for a new All-Time High(ATH).

Please respect each other's ideas and express them politely if you agree or disagree.

Bitcoin Analyze (BTCUSDT), 1-hour time frame.

Be sure to follow the updated ideas.

Do not forget to put a Stop loss for your positions (For every position you want to open).

Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.

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6 mar

Trade attivo

Trade was activated

7 mar

Trade chiuso: obiettivo raggiunto

Target Done, PRZ also worked well.