🚨Where is Bitcoin Destination❗️❓(Elon Musk changed the Game)🚨
Updated
Hi everyone👋(Reading time less than 5 minutes⏰).
We saw a ➖10% drop in Bitcoin in the last two days.
Let's look at the News; what is the reason for the fall of Bitcoin, and what effect did it have on the Bitcoin chart❗️❓
🧛♂️It seems that Elon Musk's feet are still in the middle!!!
🌐According to news, SpaceX (owned by Elon Mask) sold 373 million dollars of its Bitcoins at once, and this news caused the market to fall(Of course, this news has not been officially confirmed yet❗️❗️❗️)
🌐Of course, another news that can have an impact on the market in the future is the bankruptcy of the Chinese construction giant (Evergrande Group).
📈Now, let's look at the daily chart of Bitcoin and see the impact of this news on the chart.
Bitcoin started to decline above the descending channel, as I expected✅.
🌊According to the theory of Elliott waves, Bitcoin started to form corrective waves after it lost the Uptrend line and 200_Simple Moving Average(200-SMA).
🌊Due to the Volume Trading two days ago, I expect the corrective structure to start with 5 waves.
🌊At the moment, Bitcoin seems to have completed the main wave 3 and is now forming a wave 4.
🌊Since wave 2 has had a price correction, I expect wave 4 to experience a time correction.
🔔Finally, I expect Bitcoin to fall to the bottom of the 🟢heavy support zone($25,240-$23,900)🟢, and if it breaks this zone, we can expect Bitcoin to reach $20,000.
👀If you have time, take a look at the two posts below that I shared with you in previous weeks; they will surely give you a good insight.👇
--------------------------------------------------------------------------------
🌐➕Positive News➕🌐:
Ripple Joins Mastercard Alliance for CBDC Development.
The SEC is reportedly close to approving Ethereum Futures-based ETFs, with several firms possibly approved by October.
🌐➖Negative News➖🌐:
SpaceX wrote down 373M worth of Bitcoin back in 2021-2022.
Judge grants SEC request to file motion for appeal in Ripple case.
Market sees 11B in liquidations as Bitcoin, Ethereum plunge.
Coinbase to suspend USDT trading for Canadian users.
Bitcoin, Ethereum Dip After Fed Hints at More Rate Hikes.
--------------------------------------------------------------------------------
Bitcoin Analyze ( BTCUSDT ), Daily time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Where is Bitcoin Destination❗️❓(Elon Musk changed the Game)
We saw a ➖10% drop in Bitcoin in the last two days.
Let's look at the News; what is the reason for the fall of Bitcoin, and what effect did it have on the Bitcoin chart❗️❓
🧛♂️It seems that Elon Musk's feet are still in the middle!!!
🌐According to news, SpaceX (owned by Elon Mask) sold 373 million dollars of its Bitcoins at once, and this news caused the market to fall(Of course, this news has not been officially confirmed yet❗️❗️❗️)
🌐Of course, another news that can have an impact on the market in the future is the bankruptcy of the Chinese construction giant (Evergrande Group).
📈Now, let's look at the daily chart of Bitcoin and see the impact of this news on the chart.
Bitcoin started to decline above the descending channel, as I expected✅.
🌊According to the theory of Elliott waves, Bitcoin started to form corrective waves after it lost the Uptrend line and 200_Simple Moving Average(200-SMA).
🌊Due to the Volume Trading two days ago, I expect the corrective structure to start with 5 waves.
🌊At the moment, Bitcoin seems to have completed the main wave 3 and is now forming a wave 4.
🌊Since wave 2 has had a price correction, I expect wave 4 to experience a time correction.
🔔Finally, I expect Bitcoin to fall to the bottom of the 🟢heavy support zone($25,240-$23,900)🟢, and if it breaks this zone, we can expect Bitcoin to reach $20,000.
👀If you have time, take a look at the two posts below that I shared with you in previous weeks; they will surely give you a good insight.👇
--------------------------------------------------------------------------------
🌐➕Positive News➕🌐:
Ripple Joins Mastercard Alliance for CBDC Development.
The SEC is reportedly close to approving Ethereum Futures-based ETFs, with several firms possibly approved by October.
🌐➖Negative News➖🌐:
SpaceX wrote down 373M worth of Bitcoin back in 2021-2022.
Judge grants SEC request to file motion for appeal in Ripple case.
Market sees 11B in liquidations as Bitcoin, Ethereum plunge.
Coinbase to suspend USDT trading for Canadian users.
Bitcoin, Ethereum Dip After Fed Hints at More Rate Hikes.
--------------------------------------------------------------------------------
Bitcoin Analyze ( BTCUSDT ), Daily time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Where is Bitcoin Destination❗️❓(Elon Musk changed the Game)
Trade active
Note
Bitcoin is likely to move between $27,000 and $24,500 in a range market in the next three to four days.
👑Real & Accurcy Free & VIP Signals👉 t.me/ProTrader_365
📚Contact & Learning Technical Analysis 👉t.me/Ad_ProTrader365
🎁Signup for 30% Commission Futures Fees and 25% Bonus.👉
lbank.one/join/uu1DKdN
📚Contact & Learning Technical Analysis 👉t.me/Ad_ProTrader365
🎁Signup for 30% Commission Futures Fees and 25% Bonus.👉
lbank.one/join/uu1DKdN
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.