As I expected, Bitcoin(
BTCUSDT) has begun its decline from the resistance zone($94,850-$93,000) and has reached its target.
Currently, Bitcoin is moving near the resistance zone($90,900-$90,100), the Cumulative Short Liquidation Leverage($91,840-$90,110), and other resistance lines.
From an Elliott Wave perspective, it appears that Bitcoin has completed its five-wave downward sequence and is now in the process of forming the corrective waves upward, likely within the resistance zone($90,900-$90,100).
Moreover, since the USDT.D%(USDT.D) has successfully broken the upper line of its falling wedge pattern, we can anticipate further increases in USDT.D%, which could put additional downward pressure on Bitcoin.
Additionally, considering that the S&P 500 index(
SPX) is likely to resume a bearish trend, and given Bitcoin’s correlation with the SPX, a further decline in Bitcoin is not unexpected.
In conclusion, based on the above analysis, I expect that Bitcoin will at least test the support lines and, if those are broken, it may continue to decline toward the Cumulative Long Liquidation Leverage($87,000-$85,663). If the momentum of breaking these support lines is strong, we can expect even more significant downward movement.
Do you think Bitcoin can go below $87,000?
First Target: Support lines
Second Target: Cumulative Long Liquidation Leverage($87,000-$85,663)
Stop Loss(SL): $92,000(Worst)
Points may shift as the market evolves
💡 Please respect each other's opinions and express agreement or disagreement politely.
📌Bitcoin Analysis (BTCUSDT), 1-hour time frame.
🛑 Always set a Stop Loss(SL) for every position you open.
✅ This is just my idea; I’d love to see your thoughts too!
🔥 If you find it helpful, please BOOST this post and share it with your friends.
BTCUSDT) has begun its decline from the resistance zone($94,850-$93,000) and has reached its target.Currently, Bitcoin is moving near the resistance zone($90,900-$90,100), the Cumulative Short Liquidation Leverage($91,840-$90,110), and other resistance lines.
From an Elliott Wave perspective, it appears that Bitcoin has completed its five-wave downward sequence and is now in the process of forming the corrective waves upward, likely within the resistance zone($90,900-$90,100).
Moreover, since the USDT.D%(
USDT.D) has successfully broken the upper line of its falling wedge pattern, we can anticipate further increases in USDT.D%, which could put additional downward pressure on Bitcoin.Additionally, considering that the S&P 500 index(
SPX) is likely to resume a bearish trend, and given Bitcoin’s correlation with the SPX, a further decline in Bitcoin is not unexpected.In conclusion, based on the above analysis, I expect that Bitcoin will at least test the support lines and, if those are broken, it may continue to decline toward the Cumulative Long Liquidation Leverage($87,000-$85,663). If the momentum of breaking these support lines is strong, we can expect even more significant downward movement.
Do you think Bitcoin can go below $87,000?
First Target: Support lines
Second Target: Cumulative Long Liquidation Leverage($87,000-$85,663)
Stop Loss(SL): $92,000(Worst)
Points may shift as the market evolves
💡 Please respect each other's opinions and express agreement or disagreement politely.
📌Bitcoin Analysis (BTCUSDT), 1-hour time frame.
🛑 Always set a Stop Loss(SL) for every position you open.
✅ This is just my idea; I’d love to see your thoughts too!
🔥 If you find it helpful, please BOOST this post and share it with your friends.
تم فتح الصفقة
Trade was activated when the support lines were broken.أغلقت الصفقة: تم الوصول للهدف
Full Target Done
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🔗 t.me/ProTrader_365
منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
🎁 Free Real VIP Forex and Crypto Signals. Please visit:
🔗 t.me/ProTrader_365
🔗 t.me/ProTrader_365
منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.