These past few days, the cryptocurrency market has been affected by news about the Mt.Gox exchange and the German government's manipulations.
Bitcoin has managed to break the Heavy Support zone($61,100_$58,700) and 200_SMA(Daily) and is currently completing a pullback.
In terms of Classical Technical Analysis, it seems that Bitcoin has succeeded in forming a Symmetrical Triangle Pattern (A symmetrical triangle is usually a continuation pattern).
Regarding Elliott's wave theory, Bitcoin seems to have finished the Double Three Correction(WXY).
I expect Bitcoin to fall at least to the Lower line of the Symmetrical Triangle Pattern and Cumulative Long Liquidation Leverage.
Note: An important point you should always remember is capital management and lack of greed.
Bitcoin Analyze (BTCUSDT), 1-hour 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 gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Bitcoin has managed to break the Heavy Support zone($61,100_$58,700) and 200_SMA(Daily) and is currently completing a pullback.
In terms of Classical Technical Analysis, it seems that Bitcoin has succeeded in forming a Symmetrical Triangle Pattern (A symmetrical triangle is usually a continuation pattern).
Regarding Elliott's wave theory, Bitcoin seems to have finished the Double Three Correction(WXY).
I expect Bitcoin to fall at least to the Lower line of the Symmetrical Triangle Pattern and Cumulative Long Liquidation Leverage.
Note: An important point you should always remember is capital management and lack of greed.
Bitcoin Analyze (BTCUSDT), 1-hour 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 gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Note
Update.
If BTC can break the Potential Reversal Zone(PRZ), the scenario will be changed.
Trade active
Note
You can Risk Free your position.Trade closed manually
Risk-Free was touchedThe CPI indices were lower than the forecasts.
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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.
🎁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.