Today, I want to share with you a mid-term analysis of Bitcoin(
BTCUSDT), I hope it will be useful for you.
Please stay with me.
Bitcoin started to fall last week due to the tariffs that Donald Trump imposed on countries around the world. In general, since last week, Bitcoin has become more correlated with US stock market indices(such as
SPX500) than before.
But yesterday, Donald Trump postponed the implementation of tariffs for 90 days, except for China, which caused the US stock market indices to grow rapidly, and Bitcoin did not miss out on this growth. So, for the next 90 days, we should wait for news of bilateral tariffs between China and the US, which is likely to make an agreement between the two countries. What do you think!?
Also, just minutes ago, key U.S. inflation data was released — and it came in softer than expected.
The CPI m/m dropped to -0.1%, and Core CPI m/m slowed to 0.1%, both missing forecasts. This drop in inflation significantly reduces immediate pressure on the Fed to maintain a hawkish stance. With inflation cooling off, the market is now pricing in a more dovish Fed, which has historically been a bullish catalyst for Bitcoin.
Also, in the last 24 hours, another positive news came for Bitcoin: "China and Russia are using Bitcoin to settle energy trades," which could be effective in increasing the price of Bitcoin.
--------------------------------------------
Now, based on the above explanation, let's focus on analyzing the Bitcoin chart on the 12-hour time frame.
Bitcoin started to rise quickly after touching the Heavy Support zone($73,780-$59,000), Potential Reversal Zone(PRZ)[$74,660-$72,630], and 50_SMA(Weekly). It seems that the Important Uptrend line breakout has NOT been successfully completed. One sign of a return could be the formation of a Morningstar Candlestick Pattern, which has also been accompanied by good volume.
Bitcoin has been moving in a descending channel for the past 80 days since its All-Time High(ATH=$109,588), so a break of the upper line of this descending channel could be a significant sign of a rebound for Bitcoin.
Bitcoin is trying to break the Resistance zone($84,000-$81,130). The price that is important for Bitcoin right now is $84,000; if Bitcoin can close a candle on the 4-hour time frame above the Resistance zone($84,000-$81,130) and $84,000, we can hope for a breakout of the descending channel.
In terms of the Elliott Wave theory, Bitcoin appears to have been in a Double Three Correction(WXY) for the past 80 days. A break of the descending channel could reconfirm the end of this correction.
I expect Bitcoin to fill the CME Gap($85,940-$85,240) after breaking the Resistance zone($84,000-$81,130) in the first step and make the first attack on 50_SMA(Daily). If the descending channel breaks, the second target could be around $88,000, where there is an important Cumulative Short Liquidation Leverage($89,319-$88,375).
Also, if Bitcoin moves in a range between $90,000 and $85,000, we can expect an Altseason, given the conditions of BTC.D%(BTC.D). What do you think?
Note: If Bitcoin falls below $77,200, we should expect further declines.
Note: If Bitcoin can break the Heavy Resistance zone($95,000-$88,500), we should expect a new All-Time High(ATH).
Please respect each other's ideas and express them politely if you agree or disagree.
Bitcoin Analyze (BTCUSDT), 12-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), I hope it will be useful for you.Please stay with me.
Bitcoin started to fall last week due to the tariffs that Donald Trump imposed on countries around the world. In general, since last week, Bitcoin has become more correlated with US stock market indices(such as
SPX500) than before.But yesterday, Donald Trump postponed the implementation of tariffs for 90 days, except for China, which caused the US stock market indices to grow rapidly, and Bitcoin did not miss out on this growth. So, for the next 90 days, we should wait for news of bilateral tariffs between China and the US, which is likely to make an agreement between the two countries. What do you think!?
Also, just minutes ago, key U.S. inflation data was released — and it came in softer than expected.
The CPI m/m dropped to -0.1%, and Core CPI m/m slowed to 0.1%, both missing forecasts. This drop in inflation significantly reduces immediate pressure on the Fed to maintain a hawkish stance. With inflation cooling off, the market is now pricing in a more dovish Fed, which has historically been a bullish catalyst for Bitcoin.
Also, in the last 24 hours, another positive news came for Bitcoin: "China and Russia are using Bitcoin to settle energy trades," which could be effective in increasing the price of Bitcoin.
--------------------------------------------
Now, based on the above explanation, let's focus on analyzing the Bitcoin chart on the 12-hour time frame.
Bitcoin started to rise quickly after touching the Heavy Support zone($73,780-$59,000), Potential Reversal Zone(PRZ)[$74,660-$72,630], and 50_SMA(Weekly). It seems that the Important Uptrend line breakout has NOT been successfully completed. One sign of a return could be the formation of a Morningstar Candlestick Pattern, which has also been accompanied by good volume.
Bitcoin has been moving in a descending channel for the past 80 days since its All-Time High(ATH=$109,588), so a break of the upper line of this descending channel could be a significant sign of a rebound for Bitcoin.
Bitcoin is trying to break the Resistance zone($84,000-$81,130). The price that is important for Bitcoin right now is $84,000; if Bitcoin can close a candle on the 4-hour time frame above the Resistance zone($84,000-$81,130) and $84,000, we can hope for a breakout of the descending channel.
In terms of the Elliott Wave theory, Bitcoin appears to have been in a Double Three Correction(WXY) for the past 80 days. A break of the descending channel could reconfirm the end of this correction.
I expect Bitcoin to fill the CME Gap($85,940-$85,240) after breaking the Resistance zone($84,000-$81,130) in the first step and make the first attack on 50_SMA(Daily). If the descending channel breaks, the second target could be around $88,000, where there is an important Cumulative Short Liquidation Leverage($89,319-$88,375).
Also, if Bitcoin moves in a range between $90,000 and $85,000, we can expect an Altseason, given the conditions of BTC.D%(
BTC.D). What do you think?Note: If Bitcoin falls below $77,200, we should expect further declines.
Note: If Bitcoin can break the Heavy Resistance zone($95,000-$88,500), we should expect a new All-Time High(ATH).
Please respect each other's ideas and express them politely if you agree or disagree.
Bitcoin Analyze (BTCUSDT), 12-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
Trade was activated after pullback and BTC did not touch our SL =Note: If Bitcoin falls below $77,200, we should expect further declines.Trade closed: target reached
First Target DoneNote
Second Target Done.
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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.
👑Real & Accurcy Free & VIP Signals👉 t.me/ProTrader_365
🎁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.