Over the past few hours, Bitcoin(
BTCUSDT) has experienced highly volatile price action, with strong momentum in both bullish and bearish moves. One of the main reasons could be the reopening of the financial markets, along with the latest news surrounding geopolitical tensions in the Middle East and recent statements from political leaders.
Bitcoin is once again trading near the 50_EMA (Daily), the upper trendline of the Descending Channel, the Cumulative Short Liquidation Leverage($66,100-$65,440), and has re-entered the heavy resistance zone ($76,600-$64,850).
From an Elliott Wave perspective, it appears that Bitcoin is still completing its main wave 4, which suggests that another corrective move could still be ahead.
Since Bitcoin has shown a strong correlation with the S&P 500 index(
SPX500), and there is a possibility that the index may move lower in the coming hours, this could have a direct impact on Bitcoin and lead to further downside.
I expect Bitcoin to resume its bearish move and decline at least toward the support zone($64,000-$63,640) and the Cumulative Long Liquidation Leverage($63,750-$63,170). If bearish momentum increases, we could even see a move toward the key trading level of $62,523.
First Target: $64,123
Second Target: Cumulative Long Liquidation Leverage($63,750-$63,170)
Third Target: $62,523
Stop Loss(SL): $66,300
Cumulative Short Liquidation Leverage: $68,650-$67,500
Cumulative Long Liquidation Leverage: $61,800-$60,560
Cumulative Long Liquidation Leverage: $58,300-$57,700
Note: Since global markets are currently sensitive to the Middle East tensions, it's important to monitor geopolitical developments and be even more disciplined with risk management.
What’s your view on Bitcoin? Do you think Bitcoin can finally reclaim $65,000, or should we prepare for another correction?
💡 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 experienced highly volatile price action, with strong momentum in both bullish and bearish moves. One of the main reasons could be the reopening of the financial markets, along with the latest news surrounding geopolitical tensions in the Middle East and recent statements from political leaders.Bitcoin is once again trading near the 50_EMA (Daily), the upper trendline of the Descending Channel, the Cumulative Short Liquidation Leverage($66,100-$65,440), and has re-entered the heavy resistance zone ($76,600-$64,850).
From an Elliott Wave perspective, it appears that Bitcoin is still completing its main wave 4, which suggests that another corrective move could still be ahead.
Since Bitcoin has shown a strong correlation with the S&P 500 index(
SPX500), and there is a possibility that the index may move lower in the coming hours, this could have a direct impact on Bitcoin and lead to further downside.I expect Bitcoin to resume its bearish move and decline at least toward the support zone($64,000-$63,640) and the Cumulative Long Liquidation Leverage($63,750-$63,170). If bearish momentum increases, we could even see a move toward the key trading level of $62,523.
First Target: $64,123
Second Target: Cumulative Long Liquidation Leverage($63,750-$63,170)
Third Target: $62,523
Stop Loss(SL): $66,300
Cumulative Short Liquidation Leverage: $68,650-$67,500
Cumulative Long Liquidation Leverage: $61,800-$60,560
Cumulative Long Liquidation Leverage: $58,300-$57,700
Note: Since global markets are currently sensitive to the Middle East tensions, it's important to monitor geopolitical developments and be even more disciplined with risk management.
What’s your view on Bitcoin? Do you think Bitcoin can finally reclaim $65,000, or should we prepare for another correction?
💡 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.
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🎁 Free VIP Forex and Crypto Signals, please visit:
🔗 t.me/ProTrader_365
Publicações relacionadas
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As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
🚀 Up to 75% Trading Fee Rebates Across 20+ Exchanges:
🤖 t.me/Protrader365bot
-----
🎁 Free VIP Forex and Crypto Signals, please visit:
🔗 t.me/ProTrader_365
🤖 t.me/Protrader365bot
-----
🎁 Free VIP Forex and Crypto Signals, please visit:
🔗 t.me/ProTrader_365
Publicações relacionadas
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.