๐Hi everyone.
๐Today, I decided to analyze Bitcoin almost completely on a weekly time frame with the help of technical analysis tools to give you a good view for the mid-term.
โ After rising almost โ15% for the past four weeks, Bitcoin has started to decline again (as I expected in previous postsโ ).
โ ๏ธOne of the reasons for Bitcoin's fall again in terms of technical analysis was the Death Cross Signal.
๐โ ๏ธDeath Cross Signalโ ๏ธ: The death cross appears on a chart when an asset's short-term Moving Average(MA), usually the 50-day, crosses below its long-term moving average, usually the 200-day.
๐According to Elliott's wave theory, Bitcoin completed its 5-impulse wave at $31,800 and is currently completing corrective waves. It is better to know that because the main wave A has 5 microwaves, the structure of the corrective pattern should be in the form of a Zigzag correction(ABC/5-3-5).
๐It seems that the main wave B has also ended, but to confirm this, we have to wait for the break of the Support line and the ๐ขSupport zone($26,880-$26,500)๐ข.
๐After confirmation of the end of the main wave B, I expect the main wave C to finish in the ๐ขHeavy Support zone($25,280-$23,900)๐ข or one of the ๐กPrice Reversal Zones(PRZs)๐ก, in terms of timing, the end of the main wave C could be in one of the โซ๏ธTime Reversal Zones(TRZs)โซ๏ธ.
โ๏ธNoteโ๏ธ: The price and time of the end of the main wave C depends on the fundamental conditions of the cryptocurrency market and other parameters (๐ฒInterest rate๐ฒ_โ๏ธWarโ๏ธ_๐ณBehavior of whales๐ณ_๐On-chain Data๐_etc.)
๐I expect Bitcoin to rise to at least the previous high($31,800) after the correction waves are completed.
๐In the end, I have to apologize for the fact that the chart is busy, but in my opinion, all the lines and indicators were needed for your better understanding of the analysis, and I also hope that this analysis has an ๐educational๐ aspect for you.
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I would be happy to share your opinion about Bitcoin for the mid and even long-term below this post.
------------------------------------------------------------
Bitcoin Analyze ( BTCUSDT ), Weekly time frame โฐ.
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 gladly see your ideas in this post.
Please do not forget the โ ' like'โ button ๐๐ & Share it with your friends; thanks, and Trade safe.
๐Today, I decided to analyze Bitcoin almost completely on a weekly time frame with the help of technical analysis tools to give you a good view for the mid-term.
โ After rising almost โ15% for the past four weeks, Bitcoin has started to decline again (as I expected in previous postsโ ).
โ ๏ธOne of the reasons for Bitcoin's fall again in terms of technical analysis was the Death Cross Signal.
๐โ ๏ธDeath Cross Signalโ ๏ธ: The death cross appears on a chart when an asset's short-term Moving Average(MA), usually the 50-day, crosses below its long-term moving average, usually the 200-day.
๐According to Elliott's wave theory, Bitcoin completed its 5-impulse wave at $31,800 and is currently completing corrective waves. It is better to know that because the main wave A has 5 microwaves, the structure of the corrective pattern should be in the form of a Zigzag correction(ABC/5-3-5).
๐It seems that the main wave B has also ended, but to confirm this, we have to wait for the break of the Support line and the ๐ขSupport zone($26,880-$26,500)๐ข.
๐After confirmation of the end of the main wave B, I expect the main wave C to finish in the ๐ขHeavy Support zone($25,280-$23,900)๐ข or one of the ๐กPrice Reversal Zones(PRZs)๐ก, in terms of timing, the end of the main wave C could be in one of the โซ๏ธTime Reversal Zones(TRZs)โซ๏ธ.
โ๏ธNoteโ๏ธ: The price and time of the end of the main wave C depends on the fundamental conditions of the cryptocurrency market and other parameters (๐ฒInterest rate๐ฒ_โ๏ธWarโ๏ธ_๐ณBehavior of whales๐ณ_๐On-chain Data๐_etc.)
๐I expect Bitcoin to rise to at least the previous high($31,800) after the correction waves are completed.
๐In the end, I have to apologize for the fact that the chart is busy, but in my opinion, all the lines and indicators were needed for your better understanding of the analysis, and I also hope that this analysis has an ๐educational๐ aspect for you.
------------------------------------------------------------
I would be happy to share your opinion about Bitcoin for the mid and even long-term below this post.
------------------------------------------------------------
Bitcoin Analyze ( BTCUSDT ), Weekly time frame โฐ.
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 gladly see your ideas in this post.
Please do not forget the โ ' like'โ button ๐๐ & Share it with your friends; thanks, and Trade safe.
๋
ธํธ
The last 3 weekly candles can also create an ๐ซEvening Star Candlestick Pattern๐ซ, but we have to wait for two more days.์กํฐ๋ธ ํธ๋ ์ด๋
๋
ธํธ
We still can't confirm the end of the main wave B, I will update this post after confirmation.
๐ Free Real VIP Forex and Crypto Signals. Please visit:
๐ t.me/ProTrader_365
๐ t.me/ProTrader_365
๊ด๋ จ ๋ฐํ๋ฌผ
๋ฉด์ฑ ์ฌํญ
ํด๋น ์ ๋ณด์ ๊ฒ์๋ฌผ์ ๊ธ์ต, ํฌ์, ํธ๋ ์ด๋ฉ ๋๋ ๊ธฐํ ์ ํ์ ์กฐ์ธ์ด๋ ๊ถ์ฅ ์ฌํญ์ผ๋ก ๊ฐ์ฃผ๋์ง ์์ผ๋ฉฐ, ํธ๋ ์ด๋ฉ๋ทฐ์์ ์ ๊ณตํ๊ฑฐ๋ ๋ณด์ฆํ๋ ๊ฒ์ด ์๋๋๋ค. ์์ธํ ๋ด์ฉ์ ์ด์ฉ ์ฝ๊ด์ ์ฐธ์กฐํ์ธ์.
๐ Free Real VIP Forex and Crypto Signals. Please visit:
๐ t.me/ProTrader_365
๐ t.me/ProTrader_365
๊ด๋ จ ๋ฐํ๋ฌผ
๋ฉด์ฑ ์ฌํญ
ํด๋น ์ ๋ณด์ ๊ฒ์๋ฌผ์ ๊ธ์ต, ํฌ์, ํธ๋ ์ด๋ฉ ๋๋ ๊ธฐํ ์ ํ์ ์กฐ์ธ์ด๋ ๊ถ์ฅ ์ฌํญ์ผ๋ก ๊ฐ์ฃผ๋์ง ์์ผ๋ฉฐ, ํธ๋ ์ด๋ฉ๋ทฐ์์ ์ ๊ณตํ๊ฑฐ๋ ๋ณด์ฆํ๋ ๊ฒ์ด ์๋๋๋ค. ์์ธํ ๋ด์ฉ์ ์ด์ฉ ์ฝ๊ด์ ์ฐธ์กฐํ์ธ์.