Bitcoin(
BTCUSDT) pumped about +2% after the "The United States has dropped its tariffs on Chinese goods to 30%, down from a brutal 145%, while China is slashing its own duties on US imports to just 10%, temporarily, for the next 90 days." news, but then started to decline again. Do you think Bitcoin can see the new All-Time High(ATH)?
Bitcoin is moving near the Support zone($102,200-$101,680) and Support line.
In terms of Elliott wave theory, Bitcoin appears to have completed microwave 3 of the main wave 5 and is currently completing microwave 4 of the main wave 5.
Given the momentum of the decline a few hours ago, I expect Bitcoin to either touch the previous low or create a new low in the 1-hour timeframe.
I expect Bitcoin to attack the Support zone($102,200-$101,680) once again and possibly touch the Support line and then attack towards the Resistance zone($109,588-$105,865) with the two scenarios I outlined on the chart.
Cumulative Short Liquidation Leverage: $106,943-$105,913
Cumulative Short Liquidation Leverage: $105,313-$104,787
Cumulative Long Liquidation Leverage: $102,198-$101,697
Note: If Bitcoin can move above $104,500 without correction, we can expect more pumping.
Note: If Bitcoin falls below $101,500, we can expect more declines.
Please respect each other's ideas and express them politely if you agree or disagree.
Bitcoin Analyze (BTCUSDT), 1-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) pumped about +2% after the "The United States has dropped its tariffs on Chinese goods to 30%, down from a brutal 145%, while China is slashing its own duties on US imports to just 10%, temporarily, for the next 90 days." news, but then started to decline again. Do you think Bitcoin can see the new All-Time High(ATH)?Bitcoin is moving near the Support zone($102,200-$101,680) and Support line.
In terms of Elliott wave theory, Bitcoin appears to have completed microwave 3 of the main wave 5 and is currently completing microwave 4 of the main wave 5.
Given the momentum of the decline a few hours ago, I expect Bitcoin to either touch the previous low or create a new low in the 1-hour timeframe.
I expect Bitcoin to attack the Support zone($102,200-$101,680) once again and possibly touch the Support line and then attack towards the Resistance zone($109,588-$105,865) with the two scenarios I outlined on the chart.
Cumulative Short Liquidation Leverage: $106,943-$105,913
Cumulative Short Liquidation Leverage: $105,313-$104,787
Cumulative Long Liquidation Leverage: $102,198-$101,697
Note: If Bitcoin can move above $104,500 without correction, we can expect more pumping.
Note: If Bitcoin falls below $101,500, we can expect more declines.
Please respect each other's ideas and express them politely if you agree or disagree.
Bitcoin Analyze (BTCUSDT), 1-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 active
Trade was activated in Cumulative Long Liquidation Leverage: $102,198-$101,697Trade closed: target reached
Target Done
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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.