Another BTC BulltrapEntering a new short on a move like this for a possible deeper dive. Next month doesn't look good IMO
Bitcoinbearrun
bitcoin bear run This analysis is based on elliot waves, chart pattern and moving averages.
We can clearly see bitcoin forming a rising wedge and a head and shoulder pattern on 1 d chart of bitcoin. The targets for same are head and shoulder - 9970 and rising wedge - 7710.
The Moving averages in daily TF and weekly TF points in bearish trend also with test of support and resistance.
I believe we will break head and shoulder by the month end and test 30 k level first and then test head and shoulder for confirmation upon which the major wave 3 of wave C will complete with H&S target where will will bounce to test 16.5 k major resistance and then drop to complete the target of rising wedge.
the complete TF for same can be measured around December of 2022 and for a falling broadening wedge which will upon break will start the next leg of bull run which will be wave 5 of deca-wave structure. which shall complete by 2027 according to calculations of fib levels and halving theory.
The correction till 7110 will also fill all the gaps in CME chart and also complete the wave 4 of deca-wave structure.
This is my personal analysis and not a financial advice all my trades will be my responsibility of profit and loss please do your own research before taking this as example.
I have started a new account of trade with 0.025 btc to trade which tend to use for complete bear run to make maximum
