Bitcoin started to rise after the announcement of the Unemployment Claims rate and Putin's signing of the crypto mining law. However, the factors I mentioned in the post below can still cause Bitcoin to decrease.👇
Bitcoin is moving in the Resistance zone($60,800-$56,700) and near 50_SMA(Daily) and 200_SMA(Daily).
According to Elliott Wave theory, Bitcoin seems to be completing the Triple Double Correction(WXYXZ).
I expect Bitcoin to continue falling to at least the Support line after completing the corrective pattern.
Considering the Situation of Bitcoin, a Short Position is definitely better than a Long Position. Do you agree with me!?
Note: If Bitcoin can create a 4-hour or daily candle above the 200_SMA(Daily) and 50_SMA(Daily), we should expect Bitcoin to go up again.
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 is moving in the Resistance zone($60,800-$56,700) and near 50_SMA(Daily) and 200_SMA(Daily).
According to Elliott Wave theory, Bitcoin seems to be completing the Triple Double Correction(WXYXZ).
I expect Bitcoin to continue falling to at least the Support line after completing the corrective pattern.
Considering the Situation of Bitcoin, a Short Position is definitely better than a Long Position. Do you agree with me!?
Note: If Bitcoin can create a 4-hour or daily candle above the 200_SMA(Daily) and 50_SMA(Daily), we should expect Bitcoin to go up again.
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.
Trade active
The upper CME Gap is filled, and a new CME Gap is created :)
I don't expect the SMAs to break with the first attack.
Trade closed: target reached
First Target
Trade closed: target reached
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.