Bitcoin / TetherUSShort
Bitcoin 14% crash to 44k is starting (levels)
Updated
Technical analysis
Bitcoin has pumped significantly in the past few weeks, but nothing lasts forever, and markets always move in waves. I am expecting a 14% crash to 44k in the next few weeks. Why? We can see that the price is now below the ascending parallel channel, which is a sign of weakness. Also, as per my Elliott Wave analysis, we have finished the 5th wave of an impulse wave. What usually follows is an ABC correction or a WXYXZ complex correction. On the chart, you can see my levels, which you can use as support or resistance (profit target or entry point). These levels are very strong, and the market should react to them. Usually Bitcoin loves to bounce from 0.382 or 0.618 Fibonacci levels, and I think the bottom will be at 0.618 FIB.
Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
Bitcoin has pumped significantly in the past few weeks, but nothing lasts forever, and markets always move in waves. I am expecting a 14% crash to 44k in the next few weeks. Why? We can see that the price is now below the ascending parallel channel, which is a sign of weakness. Also, as per my Elliott Wave analysis, we have finished the 5th wave of an impulse wave. What usually follows is an ABC correction or a WXYXZ complex correction. On the chart, you can see my levels, which you can use as support or resistance (profit target or entry point). These levels are very strong, and the market should react to them. Usually Bitcoin loves to bounce from 0.382 or 0.618 Fibonacci levels, and I think the bottom will be at 0.618 FIB.
Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
Note
Waiting for a breakdown of the trading range, this is shortable.Note
Bitcoin is a little bit boring; it's recommended to wait for the rectangular pattern to finish. You can use your margin on other coins, such as JASMY.Note
This analysis is on the 4H chart, but let me remind you of my previous idea on the weekly chart so you can better understand the context of my idea.
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Best for altcoins
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Deposit HUNT to Earn 100% HUNT
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Trade here, reliable and secure
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