Bitcoin(
BTCUSDT) moved as I expected in the previous idea, and it also reversed the decline I intended and started to rise from the Support zone($102,000-$107,120), Support lines, and 50_SMA(Daily).
Bitcoin is trading near the Resistance zone($104,380-$103,670), Cumulative Short Liquidation Leverage($105,500-$105,265), and Resistance lines.
In terms of Elliott Wave theory, it seems that Bitcoin has managed to complete the main wave Y. The main corrective structure was the Double Three Correction(WXY). If the Resistance lines are broken, we can confirm the end of the main wave Y.
I expect Bitcoin to start rising after a re-correction from Cumulative Long Liquidations Leverage and reach the targets I have specified on the chart.
Cumulative Long Liquidation Leverage: $102,883-$102,181
Cumulative Long Liquidation Leverage: $101,318-$100,748
Note: If Bitcoin falls below $100,200(Worst Stop Loss(SL)), we should expect further declines.
Note: $105,500 is an important price for Bitcoin, and if Bitcoin can close the 4-hour candle above it, we can expect a break of the Heavy Resistance zone($104,380-$103,670)
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.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
BTCUSDT) moved as I expected in the previous idea, and it also reversed the decline I intended and started to rise from the Support zone($102,000-$107,120), Support lines, and 50_SMA(Daily).Bitcoin is trading near the Resistance zone($104,380-$103,670), Cumulative Short Liquidation Leverage($105,500-$105,265), and Resistance lines.
In terms of Elliott Wave theory, it seems that Bitcoin has managed to complete the main wave Y. The main corrective structure was the Double Three Correction(WXY). If the Resistance lines are broken, we can confirm the end of the main wave Y.
I expect Bitcoin to start rising after a re-correction from Cumulative Long Liquidations Leverage and reach the targets I have specified on the chart.
Cumulative Long Liquidation Leverage: $102,883-$102,181
Cumulative Long Liquidation Leverage: $101,318-$100,748
Note: If Bitcoin falls below $100,200(Worst Stop Loss(SL)), we should expect further declines.
Note: $105,500 is an important price for Bitcoin, and if Bitcoin can close the 4-hour candle above it, we can expect a break of the Heavy Resistance zone($104,380-$103,670)
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.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Trade active
Short position activated.
If you open a long position, you can save profit.
Let's analyze the trend on the 5-minute time frame using classic technical analysis.
It seems that the lower line of the descending triangle has been broken, and we can expect a decline in Bitcoin in the coming hours.
Time frame: 5 minutes.
This is just my personal analysis, and be sure to follow money management.
Trade closed: target reached
Target Done
I will update this idea.
Note
It seems that Bitcoin has pulled back to the resistance lines(broken), and we can expect another attack on the ($104,380-$103,670).
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🎁Welcome than a 50% bonus(Low Spread)👉vtm.pro/Y3AV7r
🎁Get a 20% Discount on your trading FEE on BYBIT:👉partner.bybit.com/b/PEJMANZWIN
🎁Get a 20% Bonus & 30% Discount on LBANK exchange(NO KYC)👉lbank.one/join/uBythQd
🎁Get a 20% Discount on your trading FEE on BYBIT:👉partner.bybit.com/b/PEJMANZWIN
🎁Get a 20% Bonus & 30% Discount on LBANK exchange(NO KYC)👉lbank.one/join/uBythQd
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.