Bitcoin(
BTCUSDT) is moving in the Resistance zone($102,280-$101,000). (We saw the fake break).
According to the theory of Elliott waves, it seems that Bitcoin has succeeded in completing 5 impulsive waves, and we should wait for corrective waves.
Signs of the completion of the main wave 5 in the one-hour time frame:
1-BTC broke the Uptrend lines.
2-Shooting Star Candlestick Pattern formation
3-Regular Divergence(RD-) between Consecutive Peaks.
I expect Bitcoin to fall to at least the Support zone($99,600-$98,000) in the coming hours.
⚠️Note: If Bitcoin goes above $102,540, we should expect a new All-Time High(ATH).⚠️
⚠️Note: If the Support zone($99,600-$98,000) is broken, we should wait for Bitcoin to fall at least to $96,500.⚠️
Bitcoin Analyze (BTCUSDT), 1-hour time frame⏰.
🔔Be sure to follow the updated ideas.🔔
Do not forget to put 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) is moving in the Resistance zone($102,280-$101,000). (We saw the fake break).According to the theory of Elliott waves, it seems that Bitcoin has succeeded in completing 5 impulsive waves, and we should wait for corrective waves.
Signs of the completion of the main wave 5 in the one-hour time frame:
1-BTC broke the Uptrend lines.
2-Shooting Star Candlestick Pattern formation
3-Regular Divergence(RD-) between Consecutive Peaks.
I expect Bitcoin to fall to at least the Support zone($99,600-$98,000) in the coming hours.
⚠️Note: If Bitcoin goes above $102,540, we should expect a new All-Time High(ATH).⚠️
⚠️Note: If the Support zone($99,600-$98,000) is broken, we should wait for Bitcoin to fall at least to $96,500.⚠️
Bitcoin Analyze (BTCUSDT), 1-hour time frame⏰.
🔔Be sure to follow the updated ideas.🔔
Do not forget to put 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 active
My Trade was activated
Note
in the time frame of 15 minutes
Bitcoin has managed to break the support line.
My Entry Point(EP): $100,800
I Transfer my Stop Loss to Entry Point = Risk-Free.
First Take Profit(TP): $99,495
Note
Bitcoin started to rise again today with the news of "Donald Trump’s Son Confirms Plan to Eliminate Crypto Capital Gains Tax," and it seems that the resistance zone and the upper line of the ascending triangle have broken, and this could be a sign for the creation of new All-Time High(ATH).
If Bitcoin falls below the resistance zone, we should wait for its correction.
In general, trading volume is low on Saturday and Sunday, and the probability of a new ATH is less.
Note
5-min-time frame
If we look at the 5-minute time frame, we can see that Bitcoin is completing a Zigzag Correction, so that wave B was a Contracting Triangle.
Bitcoin can start to rise again from one of the PRZs.
Trade closed: target reached
There were three positions in this post.
The first short position's Target was hit.
The second position was risk-free.
The long position's target was finally hit.
Note
The ascending triangle worked well, and as I said before, we could expect a new ATH.
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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
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🎁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.