BTC/USDT
With a penetration in the range of $ 34,000, we saw a decline in market prices, especially in Altcoins
Following the previous daily chart, the price correction is not over yet and will continue to the specified level if it penetrates to $ 30,000.
In the previous 4-hour analysis, we expected the price to rise in the form of a short uptrend to around $ 45,000 before the start of this correction wave, but unfortunately this scenario lost its validity by penetrating $ 34,000.
According to studies, the continuation of the price decline has been confirmed, and if the current situation continues and the price stabilizes below the range of $ 34,000 until next Sunday, which coincides with the closing of the weekly and monthly candlelight, we will see the market continue to decline
In case of any changes, the chart will be updated again
Over the next 24 hours, a chart of various indicators will be presented
With a penetration in the range of $ 34,000, we saw a decline in market prices, especially in Altcoins
Following the previous daily chart, the price correction is not over yet and will continue to the specified level if it penetrates to $ 30,000.
In the previous 4-hour analysis, we expected the price to rise in the form of a short uptrend to around $ 45,000 before the start of this correction wave, but unfortunately this scenario lost its validity by penetrating $ 34,000.
According to studies, the continuation of the price decline has been confirmed, and if the current situation continues and the price stabilizes below the range of $ 34,000 until next Sunday, which coincides with the closing of the weekly and monthly candlelight, we will see the market continue to decline
In case of any changes, the chart will be updated again
Over the next 24 hours, a chart of various indicators will be presented
Note
As long as the price below the range is specified, the previous scenario has not changed and is valid
If the mentioned resistance is passed, the analysis will be updated again
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As expected, after approaching the resistance range specified in the chart, it has re-entered the correction phase
In the event of a loss of 31,000, the price decline is expected to intensify and continue to the limits announced in the previous analysis
Note
After the price fell to the range of $ 30,000, it returned to the resistance range and did not penetrate below $ 30,000.
In case of crossing the $ 36,000 range, the predicted scenario will be in the form of a chart, and according to the previous wave structure, the positive wave formed will continue up to about $ 45,000-47,000.
If you cross the $ 36,000 range, buying with a penetration loss of $ 35,000 is appropriate
Due to the time analysis and the possibility of completing the correction within the next 60 days, bitcoin analysis will be reviewed and presented in detail as soon as possible with technical explanations for different scenarios.
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It failed to stabilize above the resistance range and re-entered the correction
According to the recent correction, if another upward wave is formed, the final growth of the Bitcoin price is predicted to be around $ 40,000, and this wave is expected to be the last positive correctional wave of the market and will react to these limits.
As mentioned in the previous analysis, given the type of price correction as well as the estimated time to complete this correction wave, the main support for changing the long-term market trend is around $ 24,000 and we expect the price to be within a 2-month period. Reach this level and prepare again for a long-term uptrend
Also to clear up the ambiguity about changing the resistance chart of the previous chart (which was from $ 45,000 to $ 47,000) to the $ 40,000 range, the formation of each microwave due to price compression and restructuring at higher levels changes the critical range in the chart. And the totality of the market and the type of subsequent movements are predicted based on these waves
Therefore, according to the latest studies on the Bitcoin chart, crossing and re-establishing the $ 40,000 range means the end of the correction, and the original scenario will lose its validity to reach the $ 24,000 range.
Keep in mind that the wave marked on the chart is predicted to be a 3 wave with a 100% ratio of the previous two waves, provided the $ 32,000 support is maintained, depending on the type of correction, so losing this range would mean activating the Bitcoin loss limit. will be
In case of any change, the analysis will be updated again
Good luck
Cryptoclub Analytical Team
Mr ChaRtist
Providing you with the best & most accurate analysis based on CryptoCurrency & Forex markets.
Follow us on Telegram at t.me/MrChaRtist2025
Providing you with the best & most accurate analysis based on CryptoCurrency & Forex markets.
Follow us on Telegram at t.me/MrChaRtist2025
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.
Mr ChaRtist
Providing you with the best & most accurate analysis based on CryptoCurrency & Forex markets.
Follow us on Telegram at t.me/MrChaRtist2025
Providing you with the best & most accurate analysis based on CryptoCurrency & Forex markets.
Follow us on Telegram at t.me/MrChaRtist2025
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.