This analysis is an update of the one you can find in the related publications section.
The diametric structure we had identified for Bitcoin is still valid, but wave E has extended slightly.
In this update, we have optimized and revised the supply zone, and it is expected that wave E will complete within the red box.
However, since Bitcoin has broken a mid-term resistance trendline and there are still two waves remaining in the diametric pattern, we will consider two scenarios moving forward:
Scenario 1:
After the completion of wave E, if no deep drop occurs and wave F finishes within the green zone, Bitcoin could complete wave F, pull back to the broken trendline, and then form a strong bullish move as wave G potentially reaching up to the 90K range.
Scenario 2:
If wave F experiences a deep drop and the green zone is broken to the downside with strong 12 hour or daily candle bodies, it is likely that the top of this pattern has already been completed at wave E. In this case, we may not see significant bullish movement in wave G, and the price could move toward the 62K range.
Considering the ongoing tensions in the Middle East and how developments may impact the crypto market positively or negatively, we remain prepared for both scenarios. Therefore, monitor these key levels closely.
If you have a coin or altcoin you want analyzed, first hit the like button and then comment its name so I can review it for you.
Do you also think BITCOIN is bullish?
The diametric structure we had identified for Bitcoin is still valid, but wave E has extended slightly.
In this update, we have optimized and revised the supply zone, and it is expected that wave E will complete within the red box.
However, since Bitcoin has broken a mid-term resistance trendline and there are still two waves remaining in the diametric pattern, we will consider two scenarios moving forward:
Scenario 1:
After the completion of wave E, if no deep drop occurs and wave F finishes within the green zone, Bitcoin could complete wave F, pull back to the broken trendline, and then form a strong bullish move as wave G potentially reaching up to the 90K range.
Scenario 2:
If wave F experiences a deep drop and the green zone is broken to the downside with strong 12 hour or daily candle bodies, it is likely that the top of this pattern has already been completed at wave E. In this case, we may not see significant bullish movement in wave G, and the price could move toward the 62K range.
Considering the ongoing tensions in the Middle East and how developments may impact the crypto market positively or negatively, we remain prepared for both scenarios. Therefore, monitor these key levels closely.
If you have a coin or altcoin you want analyzed, first hit the like button and then comment its name so I can review it for you.
Do you also think BITCOIN is bullish?
Transaction en cours
Still ValidNote
Note that as long as Bitcoin is above 79K, it is very bullish. You shouldn't blindly enter a short position, as this analysis (tradingview.com/chart/BTCUSDT.P/VPJwHJ7A-BTC-is-really-bearish-3D/) could be validated if the upcoming resistances are broken
🔥 Don't Just Watch the Market. Understand It!
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📊 Crypto Analysis & Setups:
👉 t.me/Behdark_EN
💹 Forex Analysis & Setups:
👉 t.me/FX_Behdark
🚀 Join BehDark for Market Insights, Trading Setups & Key Levels. Choose Your Market & Join Us!
Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
🔥 Don't Just Watch the Market. Understand It!
📊 Crypto Analysis & Setups:
👉 t.me/Behdark_EN
💹 Forex Analysis & Setups:
👉 t.me/FX_Behdark
🚀 Join BehDark for Market Insights, Trading Setups & Key Levels. Choose Your Market & Join Us!
📊 Crypto Analysis & Setups:
👉 t.me/Behdark_EN
💹 Forex Analysis & Setups:
👉 t.me/FX_Behdark
🚀 Join BehDark for Market Insights, Trading Setups & Key Levels. Choose Your Market & Join Us!
Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.