Bitcoin’s Pump to NEW ATH($109,845) Ends in High-Volume Reversal

21 mag

Bitcoin(BTCUSDT) moved towards the targets as I expected in my previous idea, although it faced pump and dump moves in reaching the targets.

Bitcoin managed to create a new New All-Time High(ATH=$109,845) but immediately began to decline on high volume.

Bitcoin is trading in the Resistance zone($109,588-$105,860) and near the Resistance lines, Monthly Resistance(2).

In terms of Elliott Wave theory, Bitcoin was able to complete main wave 5.

I expect Bitcoin to fall to at least $102,200 AFTER breaking the Support zone($105,100-$104,140), and the possibility of further declines is very high.

Also, on the 1-hour timeframe of the USDT.D%(USDT.D) chart, a bullish and regressive Falling Wedge pattern is visible, with its upper line broken.

Do you think Bitcoin can finally create a NEW All-Time High(ATH) Again!?

Note: If Bitcoin touches $110,100, we should expect a pump.

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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21 mag

Nota

One of the reasons for Bitcoin's fall was the sudden fall of the S&P500 index.

22 mag

Trade chiuso: stop raggiunto

Given Bitcoin's position, the short position seemed reasonable to me, even though the Stop Loss(SL) was hit.