Today, I want to analyze Bitcoin(
BTCUSDT) on the weekly timeframe and see together at which level it might be worth considering a Buy Bitcoin—so stay with me!
At the moment, Bitcoin is moving within a heavy support zone($56,600-$48,200), near the Cumulative Long Liquidation Leverage($56,400-$54,600) and a Potential Reversal Zone(PRZ) [$56,670-$52,350], along with key support lines.
From an Elliott Wave perspective, it looks like Bitcoin is completing a downward wave structure, which could lead to a new upward wave beginning from this large PRZ.
I expect Bitcoin, upon entering the Potential Reversal Zone(PRZ) [$56,670-$52,350] and Cumulative Long Liquidation Leverage($56,400-$54,600), to start increasing and at least rise toward the key trading level near $62,500 in the short term—though I also expect it to fill the lower CME Gap($54,545-$52,980) before doing so.
Target: $62,433
Stop Loss(SL): $47,400(Worst)
Cumulative Short Liquidation Leverage: $85,700-$82,200
Cumulative Short Liquidation Leverage $70,500-$67,500
CME gap: $75,455-$74,830
CME gap: $84,560-$83,215
CME gap: $79,165-$78,945
What’s your view on Bitcoin? Do you think it could drop below $50,000, or are we looking at a correction?
💡 Please respect each other's opinions and express agreement or disagreement politely.
📌Bitcoin Analysis (BTCUSDT), Weekly 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) on the weekly timeframe and see together at which level it might be worth considering a Buy Bitcoin—so stay with me!At the moment, Bitcoin is moving within a heavy support zone($56,600-$48,200), near the Cumulative Long Liquidation Leverage($56,400-$54,600) and a Potential Reversal Zone(PRZ) [$56,670-$52,350], along with key support lines.
From an Elliott Wave perspective, it looks like Bitcoin is completing a downward wave structure, which could lead to a new upward wave beginning from this large PRZ.
I expect Bitcoin, upon entering the Potential Reversal Zone(PRZ) [$56,670-$52,350] and Cumulative Long Liquidation Leverage($56,400-$54,600), to start increasing and at least rise toward the key trading level near $62,500 in the short term—though I also expect it to fill the lower CME Gap($54,545-$52,980) before doing so.
Target: $62,433
Stop Loss(SL): $47,400(Worst)
Cumulative Short Liquidation Leverage: $85,700-$82,200
Cumulative Short Liquidation Leverage $70,500-$67,500
CME gap: $75,455-$74,830
CME gap: $84,560-$83,215
CME gap: $79,165-$78,945
What’s your view on Bitcoin? Do you think it could drop below $50,000, or are we looking at a correction?
💡 Please respect each other's opinions and express agreement or disagreement politely.
📌Bitcoin Analysis (BTCUSDT), Weekly 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.
🚀 Up to 75% Trading Fee Rebates Across 20+ Exchanges:
🤖 t.me/Protrader365bot
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🎁 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
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Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
🚀 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
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.