BitcoinShort
Bitcoin - Medium Term Trading Idea w/ High Potential - 16 Dec 24
Updated
After U.S. election price broke the high and reach in period less than 2 month high of $106'000. Many traders expecting new highs over 150'000 - 200'000 dollars per Bitcoin, but the reality for TradingTie team is bit different.
Elliot waves are the best predictable tool in which phase of the trend we are. After breaking the range of 4-th wave - we are currently in fifth wave.
1. The price hit the upper trendline channel.
2. The price hit strong static resistance in range 104'000-106'000
3. On lower time frame 5 min the price made 5 downtrend impulsive waves.
Our target is over $60'000 per bitcoin in March-May 2025.
Elliot waves are the best predictable tool in which phase of the trend we are. After breaking the range of 4-th wave - we are currently in fifth wave.
1. The price hit the upper trendline channel.
2. The price hit strong static resistance in range 104'000-106'000
3. On lower time frame 5 min the price made 5 downtrend impulsive waves.
Our target is over $60'000 per bitcoin in March-May 2025.
Trade active
Sell 106'000
Stop 108'000
Target 60'000
Note
Update stop at 110'000Note
Note
Expectations are price to reverse to levels over 104'000
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