Bitcoin is Ready to ⚔️Attack⚔️ the Resistance Line⏰(1-Hour)⏰
Updated
💡Bitcoin has not had many price changes in the last 7 days (of course, we witnessed an emotional market in some minutes). Most of the time, Bitcoin has been moving between two lines of Support and Resistance and the 🟢Support zone($25,840_$25,600)🟢.
📚In general, it is more difficult to profit when there is Little Movement in the financial markets than when the financial markets are Trending.
🌊If we want to evaluate the recent movements of Bitcoin during the last seven days according to the theory of Elliott waves, it seems that Bitcoin is forming a correction pattern of Double Three Correction(WXY).
🌊Bitcoin is on the way to complete the last corrective wave, the Wave Y.
🔔I expect Bitcoin to at least go UP to the Resistance line and, if it breaks, to the 🟡Price Reversal Zone(PRZ)🟡.
💡Also, there is a possibility that the Contracting Triangle will develop in the coming days, but it is too Early to talk about this scenario.
💡In terms of classical analysis, Bitcoin has been able to form a Symmetrical Triangle. In general, the symmetric triangle is a Continuing Pattern, and if Bitcoin can break the downward Support line, we should expect more losses.
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🌐➕Positive News➕🌐:
BTC bull market began in March, more will realize in a year — Arthur Hayes.
Following SEC delays, ARK Invest and 21Shares file for spot Ether ETF.
Grayscale Bitcoin Trust’s alleged wallet addresses released by Arkham.
🌐➖Negative News➖🌐:
Crypto Exchanges Are the Least Trusted Financial Institutions, Survey Says.
$24 Million Worth of Crypto Wiped out Overnight in Massive Phishing Attack.
Palau to freeze USD-backed stablecoin after pilot launch in July
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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 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.
📚In general, it is more difficult to profit when there is Little Movement in the financial markets than when the financial markets are Trending.
🌊If we want to evaluate the recent movements of Bitcoin during the last seven days according to the theory of Elliott waves, it seems that Bitcoin is forming a correction pattern of Double Three Correction(WXY).
🌊Bitcoin is on the way to complete the last corrective wave, the Wave Y.
🔔I expect Bitcoin to at least go UP to the Resistance line and, if it breaks, to the 🟡Price Reversal Zone(PRZ)🟡.
💡Also, there is a possibility that the Contracting Triangle will develop in the coming days, but it is too Early to talk about this scenario.
💡In terms of classical analysis, Bitcoin has been able to form a Symmetrical Triangle. In general, the symmetric triangle is a Continuing Pattern, and if Bitcoin can break the downward Support line, we should expect more losses.
--------------------------------------------------------------------------------
🌐➕Positive News➕🌐:
BTC bull market began in March, more will realize in a year — Arthur Hayes.
Following SEC delays, ARK Invest and 21Shares file for spot Ether ETF.
Grayscale Bitcoin Trust’s alleged wallet addresses released by Arkham.
🌐➖Negative News➖🌐:
Crypto Exchanges Are the Least Trusted Financial Institutions, Survey Says.
$24 Million Worth of Crypto Wiped out Overnight in Massive Phishing Attack.
Palau to freeze USD-backed stablecoin after pilot launch in July
--------------------------------------------------------------------------------
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 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.
Trade active
Note
BTC is testing the Resistance line.Trade closed: target reached
First TargetTrade closed: target reached
Second TargetNote
From the point of view of classical analysis, it seems that Bitcoin has formed a double bottom, but the volume of breaking the neckline or the resistance zone does not seem large, and we see the Regular Divergence(RD-) between two consecutive peaks.
Note
Bitcoin is running as I expected ✅
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