Bitcoin Analysis (It's time for Bears🐻🧸🐼)
Updated
✅As I expected, Bitcoin reached the 🔴Resistance zone($65,700-$67,520)🔴.
🌊According to Elliott's wave theory, Bitcoin is completing wave 5.
💡Also, we can see Regular Divergence(RD-) between two Consecutive Peaks.
📈Looking at the Market Cap USDT Dominance% (USDT.D%) chart, I see that USDT.D% has completed its Zigzag correction(ABC/5-3-5) in the 🟢Support zone(4.72%-4.53%)🟢. We should expect at least a temporary growth of USDT.D%, which means that Bitcoin should have a minimal correction.👇
🔔I expect Bitcoin to start falling from the 🔴Resistance zone($65,700-$67,520)🔴 and continue falling to at least the 🟢Support zone($65,700-$64,180)🟢 and the 50_SMA(Daily).
❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed.
Bitcoin Analyze ( BTCUSDT ), 2-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 gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
🌊According to Elliott's wave theory, Bitcoin is completing wave 5.
💡Also, we can see Regular Divergence(RD-) between two Consecutive Peaks.
📈Looking at the Market Cap USDT Dominance% (USDT.D%) chart, I see that USDT.D% has completed its Zigzag correction(ABC/5-3-5) in the 🟢Support zone(4.72%-4.53%)🟢. We should expect at least a temporary growth of USDT.D%, which means that Bitcoin should have a minimal correction.👇
🔔I expect Bitcoin to start falling from the 🔴Resistance zone($65,700-$67,520)🔴 and continue falling to at least the 🟢Support zone($65,700-$64,180)🟢 and the 50_SMA(Daily).
❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed.
Bitcoin Analyze ( BTCUSDT ), 2-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 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
Note
If BTC touches $66,220, we can expect BTC to go down more.Note
The analysis is still valid; in my opinion, every time Bitcoin enters the 🔴Resistance zone($65,700-$67,520)🔴, a short position can be a good choice. Don't forget the Stop Loss.
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