Hi everyoneš(Reading time less than 3 minutesā°).
Bitcoin has been moving in a Rectangle Pattern for more than 21 days.
If we look at the waves inside the Rectangle Pattern in terms of Elliott waves, we will find that Bitcoin has succeeded in completing the Double Three Correction(WXY), and in the last 7 days, it is forming an Expanding Ending Diagonal.
š”One of the Signs to confirm the end of wave 5 of Expanding Ending Diagonal can be the formation of the Hanging Man Candlestick Pattern.
š”Another Sign to confirm the end of wave 5 inside the Expanding Ending Diagonal can be Fibonacci levels so that wave 5 is often 138.2%-161.82% in size relative to the size of wave 3.
š”Another sign is the fifth touch of Bitcoin with the resistance line, which shows the importance of this line for Bitcoin.
šAs a result, I expect Bitcoin to decline to at least the middle of the rectangle pattern or š¢support zone($30,480-$30,360)š¢.
āļøNoteāļø: If Bitcoin goes above $31,880, expect Bitcoin will touch at least $33,000.
šFor a better understanding and educational aspect, I tried to show you the structure of the waves inside the rectangle pattern on the chart.
šāPositive Newsāš:
Ripple won in court, creating a wave of hope and happiness in the cryptocurrency community.
Europeās First Bitcoin ETF Set To Begin Trading After 12-Month Wait.
Argentina Embraces BTC With Its First Bitcoin Futures Contract .
Galaxy Digital CEO Mike Novogratz opines that if the Securities and Exchange Commission (SEC) gives the green light for a spot BTC exchange-traded fund (ETF), it will turn around the fortunes of the largest virtual currency.
šāNegative Newsāš:
Bitcoinās price is following in XRPās footsteps by rallying close to $32,000, but the price could pull back in the face of this weekās $720 million options expiry.
US Government Moves $305,000,000 Worth of Bitcoin (BTC) Seized From Silk Road
US industry watchdogs oppose the draft bill on the crypto market structure.
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Bitcoin Analyze ( BTCUSDT), 4-hour time frameā°.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post.
Please do not forget the ā ' like'ā button šš & Share it with your friends; thanks, and Trade safe.
Bitcoin has been moving in a Rectangle Pattern for more than 21 days.
If we look at the waves inside the Rectangle Pattern in terms of Elliott waves, we will find that Bitcoin has succeeded in completing the Double Three Correction(WXY), and in the last 7 days, it is forming an Expanding Ending Diagonal.
š”One of the Signs to confirm the end of wave 5 of Expanding Ending Diagonal can be the formation of the Hanging Man Candlestick Pattern.
š”Another Sign to confirm the end of wave 5 inside the Expanding Ending Diagonal can be Fibonacci levels so that wave 5 is often 138.2%-161.82% in size relative to the size of wave 3.
š”Another sign is the fifth touch of Bitcoin with the resistance line, which shows the importance of this line for Bitcoin.
šAs a result, I expect Bitcoin to decline to at least the middle of the rectangle pattern or š¢support zone($30,480-$30,360)š¢.
āļøNoteāļø: If Bitcoin goes above $31,880, expect Bitcoin will touch at least $33,000.
šFor a better understanding and educational aspect, I tried to show you the structure of the waves inside the rectangle pattern on the chart.
šāPositive Newsāš:
Ripple won in court, creating a wave of hope and happiness in the cryptocurrency community.
Europeās First Bitcoin ETF Set To Begin Trading After 12-Month Wait.
Argentina Embraces BTC With Its First Bitcoin Futures Contract .
Galaxy Digital CEO Mike Novogratz opines that if the Securities and Exchange Commission (SEC) gives the green light for a spot BTC exchange-traded fund (ETF), it will turn around the fortunes of the largest virtual currency.
šāNegative Newsāš:
Bitcoinās price is following in XRPās footsteps by rallying close to $32,000, but the price could pull back in the face of this weekās $720 million options expiry.
US Government Moves $305,000,000 Worth of Bitcoin (BTC) Seized From Silk Road
US industry watchdogs oppose the draft bill on the crypto market structure.
----------------------------------------------------------------------------------------
Bitcoin Analyze ( BTCUSDT), 4-hour time frameā°.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post.
Please do not forget the ā ' like'ā button šš & Share it with your friends; thanks, and Trade safe.
Catatan
šTechnical analysis tools used:šElliott wave theory
Classic patterns (Rectangle Pattern)
Candlestick patterns (Hanging Man Pattern)
Volume trading
Trend lines
Support and Resistance Zones
Fibonacci levels
Trade aktif
Catatan
The trigger of the Hanging Man pattern is activatedCatatan
Bitcoin managed to break the š¢support zone($30,480-$30,360)š¢ and is pulling back into this zone.Catatan
The trading volume is low on Saturdays and Sundays, so we should not expect anything strange on Saturdays and Sundays. But starting on Monday, I expect Bitcoin to complete its pullback to the lower line of the Expanding Diagonal and the š¢support zone($30,480-$30,360)š¢ and attack the bottom line of the rectangle again.Trading ditutup: target tercapai
š Up to 75% Trading Fee Rebates Across 20+ Exchanges:
š¤ t.me/Protrader365bot
-----
š Free VIP Forex and Crypto Signals, please visit:
š t.me/ProTrader_365
š¤ t.me/Protrader365bot
-----
š Free VIP Forex and Crypto Signals, please visit:
š t.me/ProTrader_365
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.
š Up to 75% Trading Fee Rebates Across 20+ Exchanges:
š¤ t.me/Protrader365bot
-----
š Free VIP Forex and Crypto Signals, please visit:
š t.me/ProTrader_365
š¤ t.me/Protrader365bot
-----
š Free VIP Forex and Crypto Signals, please visit:
š t.me/ProTrader_365
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.