Bitcoin Outlook: From Support Bounce to Short Liquidation Target

5 giorni fa

Bitcoin(BTCUSDT) moved as I expected in my previous idea (Long and Short positions hit their targets).

Bitcoin is currently moving near the Resistance zone($114,820-$113,170), Resistance line, and the Monthly Pivot Point, and seems to have failed to break 100_EMA(Daily).

In terms of Elliott Wave theory, Bitcoin completed wave 5 as I expected by attacking 100_EMA(Daily) and Heavy Support zone($112,000-$105,800), and we can expect more bullish waves.

I expect Bitcoin to break the Resistance line in the coming hours and attack the Resistance zone ($114,820-$113,170) and the Cumulative Short Liquidation Leverage ($114,334-$113,400).

Cumulative Long Liquidation Leverage: $110,950-$110,350

Note: If Bitcoin goes above $115,000, we should expect Bitcoin to rise again.

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

Bitcoin Analysis (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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5 giorni fa

Trade attivo

Trade was activated after breaking the resistance line

4 giorni fa

Trade chiuso manualmente

Risk Free

My Take-Profit was set at $114,081, but Bitcoin missed it by a small difference (which is normal in financial markets). I did a Risk-Free my Long position.