Bitcoin(
BTCUSDT) moved towards the targets as I expected in my previous idea, although it faced pump and dump moves in reaching the targets.
Bitcoin managed to create a new New All-Time High(ATH=$109,845) but immediately began to decline on high volume.
Bitcoin is trading in the Resistance zone($109,588-$105,860) and near the Resistance lines, Monthly Resistance(2).
In terms of Elliott Wave theory, Bitcoin was able to complete main wave 5.
I expect Bitcoin to fall to at least $102,200 AFTER breaking the Support zone($105,100-$104,140), and the possibility of further declines is very high.
Also, on the 1-hour timeframe of the USDT.D%(USDT.D) chart, a bullish and regressive Falling Wedge pattern is visible, with its upper line broken.
Do you think Bitcoin can finally create a NEW All-Time High(ATH) Again!?
Note: If Bitcoin touches $110,100, we should expect a pump.
Please respect each other's ideas and express them politely if you agree or disagree.
Bitcoin Analyze (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.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
BTCUSDT) moved towards the targets as I expected in my previous idea, although it faced pump and dump moves in reaching the targets.Bitcoin managed to create a new New All-Time High(ATH=$109,845) but immediately began to decline on high volume.
Bitcoin is trading in the Resistance zone($109,588-$105,860) and near the Resistance lines, Monthly Resistance(2).
In terms of Elliott Wave theory, Bitcoin was able to complete main wave 5.
I expect Bitcoin to fall to at least $102,200 AFTER breaking the Support zone($105,100-$104,140), and the possibility of further declines is very high.
Also, on the 1-hour timeframe of the USDT.D%(
USDT.D) chart, a bullish and regressive Falling Wedge pattern is visible, with its upper line broken.Do you think Bitcoin can finally create a NEW All-Time High(ATH) Again!?
Note: If Bitcoin touches $110,100, we should expect a pump.
Please respect each other's ideas and express them politely if you agree or disagree.
Bitcoin Analyze (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.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Note
One of the reasons for Bitcoin's fall was the sudden fall of the S&P500 index.Trade closed: stop reached
Given Bitcoin's position, the short position seemed reasonable to me, even though the Stop Loss(SL) was hit.
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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.
🎁Welcome than a 50% bonus(Low Spread)👉vtm.pro/Y3AV7r
🎁Get a 20% Discount on your trading FEE on BYBIT:👉partner.bybit.com/b/PEJMANZWIN
🎁Get a 20% Bonus & 30% Discount on LBANK exchange(NO KYC)👉lbank.one/join/uBythQd
🎁Get a 20% Discount on your trading FEE on BYBIT:👉partner.bybit.com/b/PEJMANZWIN
🎁Get a 20% Bonus & 30% Discount on LBANK exchange(NO KYC)👉lbank.one/join/uBythQd
Related publications
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.