As I expected yesterday, Bitcoin(
BTCUSDT) started rising from the Support zone($107,580-$106,700) and has now hit its Target at the Resistance zone($110,430-$109,380).
Now the question is: will Bitcoin continue its short-term uptrend in the next few hours, or is it going to drop again? Stay with me to find out.
Bitcoin is trading near the Resistance zone($110,430-$109,380), Potential Reversal Zone(PRZ)[$111,000-$110,130], and Cumulative Short Liquidation Leverage($111,613-$110,542).
From an Elliott Wave perspective, it seems that Bitcoin is completing the wave C of an Expanding Flat Corrective Pattern(ABC/3-3-5).
Given that the S&P 500(
SPX) (which has recently been correlated with Bitcoin) is likely to drop when the U.S. market opens, I expect Bitcoin to resume its decline. This next drop might be the final push to break the Heavy Support zone($111,980-$105,820).
What do you think? Can Bitcoin break that Heavy Support zone($111,980-$105,820) in the end or not? Let me know your thoughts!
Cumulative Long Liquidation Leverage: $106,606-$105,463
Please respect each other's ideas and express them politely if you agree or disagree.
Bitcoin Analysis (BTCUSDT), 15-minute 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.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
BTCUSDT) started rising from the Support zone($107,580-$106,700) and has now hit its Target at the Resistance zone($110,430-$109,380).Now the question is: will Bitcoin continue its short-term uptrend in the next few hours, or is it going to drop again? Stay with me to find out.
Bitcoin is trading near the Resistance zone($110,430-$109,380), Potential Reversal Zone(PRZ)[$111,000-$110,130], and Cumulative Short Liquidation Leverage($111,613-$110,542).
From an Elliott Wave perspective, it seems that Bitcoin is completing the wave C of an Expanding Flat Corrective Pattern(ABC/3-3-5).
Given that the S&P 500(
SPX) (which has recently been correlated with Bitcoin) is likely to drop when the U.S. market opens, I expect Bitcoin to resume its decline. This next drop might be the final push to break the Heavy Support zone($111,980-$105,820).What do you think? Can Bitcoin break that Heavy Support zone($111,980-$105,820) in the end or not? Let me know your thoughts!
Cumulative Long Liquidation Leverage: $106,606-$105,463
Please respect each other's ideas and express them politely if you agree or disagree.
Bitcoin Analysis (BTCUSDT), 15-minute 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.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
交易進行
Trade was activated in Cumulative Short Liquidation Leverage($111,613-$110,542)註釋
Following yesterday’s analysis, Bitcoin started an upward move and touched its resistance levels one by one, even filling a small CME gap.
Now the question is whether Bitcoin can maintain this two-day uptrend or if it’s poised to drop again. Stay tuned.
Currently, Bitcoin is moving near a Resistance zone, Cumulative Short Liquidation Leverage, Resistance lines, and a monthly pivot point.
From a classic technical analysis standpoint on the one-hour chart, Bitcoin is forming a Rising Wedge Pattern. If it breaks below the lower lines of this wedge, that would be a strong signal of weakening in this short-term uptrend.
From an Elliott Wave perspective, it seems #BTC is forming a Double Three Correction(WXY) within this rising wedge, likely completing near the Resistance zone.
Note: As mentioned in previous posts, Bitcoin has had a high correlation with the SPX500 recently. If the S&P 500 starts a correction, we might see further downside for BTC as well.
In conclusion, I expect Bitcoin, after breaking the lower lines of the rising wedge, to potentially drop at least to around $109,733. If it breaks the support zone, further decline is possible.
Stop Loss: $113,020(Worst)
Another Note: Also keep in mind any geopolitical tensions—like those between the US and Venezuela🇻🇪—could impact the crypto market if they escalate. So factor in end-of-week market sentiment and volatility as well.
註釋
First Target Done($109,733), but I did not close my position, and I did Risk Free.It seems that tensions between Venezuela🇻🇪 and the USA have increased a bit.
The reaction of gold in the last hour or two could also be due to these tensions.
交易結束：達到停損點
Michael Saylor published a tweet, "Another Bitcoin buy incoming."As long as Bitcoin does not rise above $114,000, a reversal is possible from a technical analysis perspective.
Of course, in my analysis, I had given a warning of the risk-free, but I closed this analysis with a Stop Loss(SL) (transparency is important).
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🎁 Free Real VIP Forex and Crypto Signals. Please visit:
🔗 t.me/ProTrader_365
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相關出版品
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。