Bitcoin Tries to break Key Resistance—New Weekly Rally Starting?
Bitcoin(
BTCUSDT), exactly as expected in my previous idea, started to decline from the resistance zone($89,230-$87,720) and successfully reached its downside target.
Currently, despite the low trading volume during the weekend, Bitcoin appears to have broken above the resistance lines and is now actively attempting to confirm a breakout above the key resistance zone($89,230-$87,720).
From an Elliott Wave perspective, Bitcoin seems to have completed the main wave B within the support zone($85,400-$83,900). The structure of this main wave B appears to be an Expanding Flat(ABC/3-3-5), which aligns well with the current price behavior.
Considering Bitcoin’s strong correlation with the S&P 500 index(
SPX), and given that my outlook on the S&P 500 index remains bullish, the probability of another upward move in Bitcoin increases as we approach the start of the new trading week.
Based on this confluence, I expect Bitcoin to successfully break above the resistance zone($89,230-$87,720) and potentially move higher toward the $90,217 level as a minimum upside target.
Cumulative Long Liquidation Leverage: $86,800-$85,580
Cumulative Long Liquidation Leverage: $84,400-$82,900
Cumulative Short Liquidation Leverage: $91,870-$90,700
Cumulative Short Liquidation Leverage: $98,400-$97,000
First Target: $90,217
Second Target: $91,177
Third Target: 50_SMA(Daily)
Stop Loss(SL): $85,517Worst)
Points may shift as the market evolves
What is your view on Bitcoin at this stage?
Do you think Bitcoin can sustain a move above $90,000, or will it face rejection again?
💡 Please respect each other's opinions and express agreement or disagreement politely.
📌Bitcoin Analysis (BTCUSDT), 4-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), exactly as expected in my previous idea, started to decline from the resistance zone($89,230-$87,720) and successfully reached its downside target.Currently, despite the low trading volume during the weekend, Bitcoin appears to have broken above the resistance lines and is now actively attempting to confirm a breakout above the key resistance zone($89,230-$87,720).
From an Elliott Wave perspective, Bitcoin seems to have completed the main wave B within the support zone($85,400-$83,900). The structure of this main wave B appears to be an Expanding Flat(ABC/3-3-5), which aligns well with the current price behavior.
Considering Bitcoin’s strong correlation with the S&P 500 index(
SPX), and given that my outlook on the S&P 500 index remains bullish, the probability of another upward move in Bitcoin increases as we approach the start of the new trading week.Based on this confluence, I expect Bitcoin to successfully break above the resistance zone($89,230-$87,720) and potentially move higher toward the $90,217 level as a minimum upside target.
Cumulative Long Liquidation Leverage: $86,800-$85,580
Cumulative Long Liquidation Leverage: $84,400-$82,900
Cumulative Short Liquidation Leverage: $91,870-$90,700
Cumulative Short Liquidation Leverage: $98,400-$97,000
First Target: $90,217
Second Target: $91,177
Third Target: 50_SMA(Daily)
Stop Loss(SL): $85,517Worst)
Points may shift as the market evolves
What is your view on Bitcoin at this stage?
Do you think Bitcoin can sustain a move above $90,000, or will it face rejection again?
💡 Please respect each other's opinions and express agreement or disagreement politely.
📌Bitcoin Analysis (BTCUSDT), 4-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.
Trade aktif
Long Position was activated
Time Frame: 1-hour time frame
Trading ditutup: target tercapai
Target Done
I closed the long position (trailing stop).
Risk-To-Reward: 1.79
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🚀 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
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.