Bitcoin Roadmap!!!==>>Short term!!!Bitcoin ( BINANCE:BTCUSDT ) created a New All-Time High(ATH) over the weekend. In your opinion, how far will this upward trend of Bitcoin go!?
Because Bitcoin has never had a price history before, analyzing its end is a bit complicated. Of course, I will try to find the end of this Sharpie movement with technical analysis tools and On-chain data .
Bitcoin has been moving in the Ascending Channel on the 15-minute time frame for the past two days .
According to the Elliott wave theory , considering that Fear Of Missing Out(FOMO) is in the market, wave 3 has been extended . It seems that the Upper line of the Ascending Channel and Potential Reversal Zone(PRZ) can be the end of the main wave 5 . Then, wait for the correction. I expect this Bitcoin Sharpie correction to happen if the correction starts.
Fundamental Conditions of Bitcoin:
1-The Fear and Greed Index is in the Extreme Greed Range, and Bitcoin's movements are showing this very well.
2-The Funding Rate for Long positions is very high and in the risk range. Anyone can log in anywhere😂.
3-Open Interest is in the maximum range and can be a warning to start correction in Bitcoin.
4-Lower prices are attractive areas for liquidating long positions.
5-100% of Bitcoin wallets are in profit.
6-I consider the fact that all the famous people in the cryptocurrency market talk about the higher price of Bitcoin, for example, 200 thousand and 300 thousand dollars soon, a warning because whenever these people talk about these goals, Bitcoin has been corrected after some time. So, according to your strategy and capital management, enter the financial markets, especially crypto, which is more risky.
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Finally, I expect Bitcoin to correct to at least $80,000 after breaking the lower line of the ascending channel and the Support zone($81,850-$81,500) .
⚠️Note: We can expect more pumps if Bitcoin breaks the Potential Reversal Zone(PRZ) ⚠️
🙏Note: This is only a personal analysis; please follow your strategy and respect all ideas.Thanks🙏
Bitcoin Analyze (BTCUSDT), 15-minute time frame⏰.
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