As I expected in my previous idea, Bitcoin(
BTCUSDT) started to rise from the Support zone($95,760-$95,200). One of the news that pumped Bitcoin was "Arizona Becomes Second U.S. State to Adopt Bitcoin for State Treasury"
Bitcoin is trading in the Resistance zone($100,200-$97,700) and near the upper lines of the Ascending Broadening Wedge Pattern, Time Reversal Zone(TRZ) and Potential Reversal Zone(PRZ)[$100,920-$99,680].
Also, we can see a Regular Divergence(RD-) between Consecutive Peaks.
From an Elliott wave theory, it seems we should wait for corrective waves because the Cumulative Short Liquidation Leverage($100,888-$99,826) is very important and I DO NOT expect it to be broken by a single attack.
Another point we can pay attention to is the existence of two small CME Gaps, the first CME Gap($98,430-$98,380) is likely to be filled.
I expect Bitcoin to drop to at least $98,100 in the coming hours, and if the Support zone($97,900-$97,240) is broken, we should expect further declines, so I will label this idea as ''Short''.
Cumulative Long Liquidation Leverage: $98,500-$97,514
Note: If Bitcoin can break the Potential Reversal Zone(PRZ)[$100,920-$99,680] with the good volume, we can expect a new All-Time High(ATH).
Do you think Bitcoin is on track for a new All-Time High(ATH)?
Please respect each other's ideas and express them politely if you agree or disagree.
Bitcoin Analyze (BTCUSDT), 2-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) started to rise from the Support zone($95,760-$95,200). One of the news that pumped Bitcoin was "Arizona Becomes Second U.S. State to Adopt Bitcoin for State Treasury"Bitcoin is trading in the Resistance zone($100,200-$97,700) and near the upper lines of the Ascending Broadening Wedge Pattern, Time Reversal Zone(TRZ) and Potential Reversal Zone(PRZ)[$100,920-$99,680].
Also, we can see a Regular Divergence(RD-) between Consecutive Peaks.
From an Elliott wave theory, it seems we should wait for corrective waves because the Cumulative Short Liquidation Leverage($100,888-$99,826) is very important and I DO NOT expect it to be broken by a single attack.
Another point we can pay attention to is the existence of two small CME Gaps, the first CME Gap($98,430-$98,380) is likely to be filled.
I expect Bitcoin to drop to at least $98,100 in the coming hours, and if the Support zone($97,900-$97,240) is broken, we should expect further declines, so I will label this idea as ''Short''.
Cumulative Long Liquidation Leverage: $98,500-$97,514
Note: If Bitcoin can break the Potential Reversal Zone(PRZ)[$100,920-$99,680] with the good volume, we can expect a new All-Time High(ATH).
Do you think Bitcoin is on track for a new All-Time High(ATH)?
Please respect each other's ideas and express them politely if you agree or disagree.
Bitcoin Analyze (BTCUSDT), 2-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 closed: stop reached
After Trump said in the press conference, "Better go out and buy stocks now." The SPX500 index started pumping, and as I said in the ideas of the last few days, Bitcoin's correlation with this index has increased. Bitcoin also started pumping and was able to break the Potential Reversal Zone(PRZ)[$100,920-$99,680], and we should probably wait for a new ATH.Although I did not activate this position, I will label it Stop Loss because some followers may have been hurt (I apologize).
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🎁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.