Bitcoin(
BTCUSDT) has experienced both bullish and bearish moves over the past few days under the influence of various news events, resulting in a clear ranging structure.
One key factor that must be considered for Bitcoin and other risk assets is the escalation of tensions in the Middle East. This situation can act as a catalyst for sudden sell-offs across Bitcoin and the broader crypto market.
Currently, Bitcoin is trading near resistance lines, as well as the Cumulative Short Liquidation Leverage($93,150-$92,970), and has reacted precisely to the Potential Reversal Zone(PRZ)[$93,170-$92,680].
From an Elliott Wave perspective, Bitcoin appears to be completing a Double Three Correction (WXY) within this short-term range.
I expect Bitcoin to make another attempt toward the lower line of the ascending channel.
If this level breaks, we should be prepared for a deeper decline toward the Cumulative Long Liquidation Leverage zone($90,360-$89,360).
First Target: $90,773
Second Target: $89,903
Stop Loss(SL): $90,923
Points may shift as the market evolves
CME gap: $88,720-$88,120
What do you think about Bitcoin in the short term? I’d love to hear your thoughts!
Cumulative Long Liquidation Leverage: $87,125-$86,000
💡 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 both bullish and bearish moves over the past few days under the influence of various news events, resulting in a clear ranging structure.One key factor that must be considered for Bitcoin and other risk assets is the escalation of tensions in the Middle East. This situation can act as a catalyst for sudden sell-offs across Bitcoin and the broader crypto market.
Currently, Bitcoin is trading near resistance lines, as well as the Cumulative Short Liquidation Leverage($93,150-$92,970), and has reacted precisely to the Potential Reversal Zone(PRZ)[$93,170-$92,680].
From an Elliott Wave perspective, Bitcoin appears to be completing a Double Three Correction (WXY) within this short-term range.
I expect Bitcoin to make another attempt toward the lower line of the ascending channel.
If this level breaks, we should be prepared for a deeper decline toward the Cumulative Long Liquidation Leverage zone($90,360-$89,360).
First Target: $90,773
Second Target: $89,903
Stop Loss(SL): $90,923
Points may shift as the market evolves
CME gap: $88,720-$88,120
What do you think about Bitcoin in the short term? I’d love to hear your thoughts!
Cumulative Long Liquidation Leverage: $87,125-$86,000
💡 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.
Note
SL is $93,983Trade closed: stop reached
Stop Loss was touched, BTC has to break the resistance zone for more pumps.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🎁 Free Real VIP Forex and Crypto Signals. Please visit:
🔗 t.me/ProTrader_365
🔗 t.me/ProTrader_365
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.