Before diving into the Bitcoin analysis, it’s worth noting that Bitcoin has had a strong correlation with the SPX500 index(
SPX) in recent weeks. So, alongside analyzing Bitcoin, it’s a good idea to keep an eye on the SPX500 chart these days.
Currently, Bitcoin(
BTCUSDT) is moving in a Support zone($10200,980-$96,880) near a Potential Reversal Zone(PRZ)[$97,000-$99,420] and a Cumulative Long Liquidation Leverage($99,145-$97,208).
From an Elliott Wave perspective, it looks like Bitcoin is forming an Expanding Ending Diagonal to complete the microwave 5 of the main wave 5.
Also, we can see a Regular Divergence(RD+), which is a good sign of a potential reversal.
Given my expectation that the SPX500 Index will start to rise again, I also expect that Bitcoin will follow suit and could climb at least to around $104,200.
Cumulative Short Liquidation Leverage: $105,074-$104,551
Stop Loss: $96,178
Please respect each other's ideas and express them politely if you agree or disagree.
Bitcoin Analysis (BTCUSDT), 1-hour time frame.
Be sure to follow the updated ideas.
Do not forget to put a Stop loss for your positions (For every position you want to open).
Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.
SPX) in recent weeks. So, alongside analyzing Bitcoin, it’s a good idea to keep an eye on the SPX500 chart these days.Currently, Bitcoin(
BTCUSDT) is moving in a Support zone($10200,980-$96,880) near a Potential Reversal Zone(PRZ)[$97,000-$99,420] and a Cumulative Long Liquidation Leverage($99,145-$97,208).From an Elliott Wave perspective, it looks like Bitcoin is forming an Expanding Ending Diagonal to complete the microwave 5 of the main wave 5.
Also, we can see a Regular Divergence(RD+), which is a good sign of a potential reversal.
Given my expectation that the SPX500 Index will start to rise again, I also expect that Bitcoin will follow suit and could climb at least to around $104,200.
Cumulative Short Liquidation Leverage: $105,074-$104,551
Stop Loss: $96,178
Please respect each other's ideas and express them politely if you agree or disagree.
Bitcoin Analysis (BTCUSDT), 1-hour time frame.
Be sure to follow the updated ideas.
Do not forget to put a Stop loss for your positions (For every position you want to open).
Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.
İşlem aktif
Trade was activated when BTC touched the Potential Reversal Zone(PRZ)[$97,000-$99,420]Not
With the resistance lines broken, it seems that Bitcoin has completed its pullback in recent hours and we can expect a renewed increase, although perhaps with a lower momentum (because trading volume is generally low on Saturdays and Sundays).
In the last hours of the financial markets, the SPX500 index seems to have started to rise again, appearing to form a bear trap.
Cumulative Short Liquidation Leverage: $105,549-$104,335
Cumulative Long Liquidation Leverage: $101,890-$101,279
Cumulative Long Liquidation Leverage: $98,882-$98,124(Heavy)
Be sure to follow money management
İşlem kapandı: hedefe ulaştı
Target Done
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
ProTrader365 | Crypto & Forex Analyst
8+ Years Experience • Elliott Wave • Volume & Order Flow
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8+ Years Experience • Elliott Wave • Volume & Order Flow
Free Signals, Market Analysis & Education
Explore our community & VIP services:
linktr.ee/ProTrader365
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.