Critical Insights on Bitcoin: An In-Depth Analysis
BTCUSDT ## Technical Analysis for Medium Timeframe on the 1-2 Scenario
### Overview
Currently, we are observing critical movements within the wave structure, with validation of the 1-2 idea occurring across three lower degrees within the hierarchy. This indicates a strong potential for further price movement but also comes with crucial levels of validation and invalidation that traders should be mindful of.
### Current Structure
1. Wave Hierarchy:
- The market is at the absolute peak validation for the 1-2/1-2 pattern. This suggests that we are likely completing a corrective structure (potentially an ABC or another pattern) and are primed for an upward movement if our primary setup is correct.
2. Micro Timeframe Analysis:
- On the micro timeframe, the consideration of a flat correction as the last resort for the intermediate degree wave 1-2 (marked in orange) gives us caution. Flat corrections typically inflect at a higher degree and signify potential trend reversals or deeper corrections.
### Key Levels to Watch
- Soft Invalidation Level: 94161
- This is the first level where we should be cautious. A break below this level may indicate weakening structure but is not a definitive signal to abandon the bullish outlook yet.
- Critical Level: 91263
- The breach of this level would raise serious concerns regarding the validity of the bullish wave count. It warrants close attention as it could suggest a more prolonged corrective phase or a trend reversal.
- Entire Invalidation for Wave 2:
- Levels below the critical 89256 would render the entire wave structure invalidated for the current wave 2 scenario. Traders must pay attention to price movements relative to this level, as sustained trading below could indicate the necessity to reassess the overall trend.
### Conclusion
In summary, while the market presents a favorable structure for a bullish 1-2 wave scenario across multiple degrees, it is crucial to remain aware of the key invalidation levels. The micro timeframe indicates the potential for a flat correction, making it essential to monitor the price action closely. A breach of soft and critical invalidation levels (94161 and 91263 respectively) increases the risk of a deeper corrective structure and may necessitate reassessment of the current bullish outlook.
### Recommendations
- Monitor Key Levels: Keep a close watch on the specified invalidation levels and prepare to react accordingly if they are breached.
- Set Alerts: Utilize trading alerts to notify you of significant movements around these critical levels.
- Risk Management: Ensure proper risk management techniques are in place, particularly if price action approaches the critical and entire invalidation levels.
By adhering to this analysis and remaining disciplined in your trading approach, you can navigate the complexity of the current market structure more effectively.
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👇 Telegram
t.me/SRFXGlobal
👇 YouTube
youtube.com/@srfxglobalsl?si=hbM2z2PURtIHCQvz
👇 X
x.com/SRFL1111
👇 Facebook
web.facebook.com/Friendship0002
t.me/SRFXGlobal
👇 YouTube
youtube.com/@srfxglobalsl?si=hbM2z2PURtIHCQvz
👇 X
x.com/SRFL1111
web.facebook.com/Friendship0002
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.