Bitcoin(
BTCUSDT) began to decline from the resistance zone($95,020-$94,840) exactly as expected in my previous idea, successfully reaching all targets.
At the moment, Bitcoin was able to break the support zone($90,650-$90,000). It seems that the pullback to the broken support zone($90,650-$90,000) could be completed with a symmetrical triangle pattern, although given the low trading volume on Saturday and Sunday, this triangle may not function properly.
In terms of Elliott Wave theory, Bitcoin appears to be completing the microwave C of the main wave B, and I expect at least one more impulsive 5-wave move to the upside.
I expect Bitcoin to start rising from the support zone($89,230-$88,000) or the Potential Reversal Zone(PRZ)[$87,820-$87,120] maximum. A break of the resistance lines could be a good sign for Bitcoin to rise again.
What do you think? Do you believe Bitcoin will dip below $75,000, or will it bounce back?
Cumulative Short Liquidation Leverage: $98,260-$96,690
Cumulative Short Liquidation Leverage: $90,560-$89,990
Cumulative Long Liquidation Leverage: $87,820-$87,290
Cumulative Long Liquidation Leverage: $83,900-$82,400
First Target: $89,911
Second Target: $92,119
Stop Loss(SL): $86,120(Worst)
Points may shift as the market evolves
💡 Please respect each other's opinions and express agreement or disagreement politely.
📌Bitcoin Analysis (BTCUSDT), 1-hour time frame.
🛑 Always set a Stop Loss(SL) for every position you open.
✅ This is just my idea; I’d love to see your thoughts too!
🔥 If you find it helpful, please BOOST this post and share it with your friends.
BTCUSDT) began to decline from the resistance zone($95,020-$94,840) exactly as expected in my previous idea, successfully reaching all targets.At the moment, Bitcoin was able to break the support zone($90,650-$90,000). It seems that the pullback to the broken support zone($90,650-$90,000) could be completed with a symmetrical triangle pattern, although given the low trading volume on Saturday and Sunday, this triangle may not function properly.
In terms of Elliott Wave theory, Bitcoin appears to be completing the microwave C of the main wave B, and I expect at least one more impulsive 5-wave move to the upside.
I expect Bitcoin to start rising from the support zone($89,230-$88,000) or the Potential Reversal Zone(PRZ)[$87,820-$87,120] maximum. A break of the resistance lines could be a good sign for Bitcoin to rise again.
What do you think? Do you believe Bitcoin will dip below $75,000, or will it bounce back?
Cumulative Short Liquidation Leverage: $98,260-$96,690
Cumulative Short Liquidation Leverage: $90,560-$89,990
Cumulative Long Liquidation Leverage: $87,820-$87,290
Cumulative Long Liquidation Leverage: $83,900-$82,400
First Target: $89,911
Second Target: $92,119
Stop Loss(SL): $86,120(Worst)
Points may shift as the market evolves
💡 Please respect each other's opinions and express agreement or disagreement politely.
📌Bitcoin Analysis (BTCUSDT), 1-hour time frame.
🛑 Always set a Stop Loss(SL) for every position you open.
✅ This is just my idea; I’d love to see your thoughts too!
🔥 If you find it helpful, please BOOST this post and share it with your friends.
🎁Get a 20% Discount on your trading FEE on BYBIT:👉partner.bybit.com/b/PEJMANZWIN
Pubblicazioni correlate
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🎁Get a 20% Discount on your trading FEE on BYBIT:👉partner.bybit.com/b/PEJMANZWIN
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.