Bitcoin(
BTCUSDT) filled the CME Gap($117,255-$116,675) and started to rise, as I expected in my previous idea.
Bitcoin is currently trying to break the Resistance zone($119,530-$118,270). In the last week's movement, the price of $118,000 can be considered as one of the most important numbers for Bitcoin, with a lot of trading volume around this price.
In terms of Elliott Wave theory, it seems that Bitcoin has managed to complete the main wave 4 near the Support zone($116,900-$115,730) and Support lines. The structure of the main wave 4 is a Zigzag Correction(ABC/5-3-5) (so far). There is a possibility that the 5th wave will be a truncated wave because the momentum of the main wave 3 is high and Bitcoin may NOT create a new ATH and the main wave 5 will complete below the main wave 3.
I expect Bitcoin to start rising near the Potential Reversal Zone(PRZ)[$118,230-$117,6800] and Cumulative Long Liquidation Leverage($118,277-$118,033), break the Resistance zone($119,530-$118,270) and reach the targets I have marked on the chart.
Note: Stop Loss(SL)= $116,960
CME Gap: $115,060-$114,947
Cumulative Short Liquidation Leverage: $121,502-$121,134
Cumulative Short Liquidation Leverage: $120,612-$119,783
Cumulative Long Liquidation Leverage: $116,810-$115,522
Do you think Bitcoin can create a new ATH again?
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) filled the CME Gap($117,255-$116,675) and started to rise, as I expected in my previous idea.Bitcoin is currently trying to break the Resistance zone($119,530-$118,270). In the last week's movement, the price of $118,000 can be considered as one of the most important numbers for Bitcoin, with a lot of trading volume around this price.
In terms of Elliott Wave theory, it seems that Bitcoin has managed to complete the main wave 4 near the Support zone($116,900-$115,730) and Support lines. The structure of the main wave 4 is a Zigzag Correction(ABC/5-3-5) (so far). There is a possibility that the 5th wave will be a truncated wave because the momentum of the main wave 3 is high and Bitcoin may NOT create a new ATH and the main wave 5 will complete below the main wave 3.
I expect Bitcoin to start rising near the Potential Reversal Zone(PRZ)[$118,230-$117,6800] and Cumulative Long Liquidation Leverage($118,277-$118,033), break the Resistance zone($119,530-$118,270) and reach the targets I have marked on the chart.
Note: Stop Loss(SL)= $116,960
CME Gap: $115,060-$114,947
Cumulative Short Liquidation Leverage: $121,502-$121,134
Cumulative Short Liquidation Leverage: $120,612-$119,783
Cumulative Long Liquidation Leverage: $116,810-$115,522
Do you think Bitcoin can create a new ATH again?
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.
Trade active
Position was activated in Potential Reversal Zone(PRZ)[$118,230-$117,6800] and Cumulative Long Liquidation Leverage($118,277-$118,033)Trade closed: stop reached
It seems that the second top of the symmetrical triangle pattern has formed today. It is currently near the lower lines of the triangle.
My previous Long position touched the Stop Loss.
But now Bitcoin is back in the attractive zone for long positions.
Do you think Bitcoin will touch the upper lines of the symmetrical triangle pattern again?
Cumulative Short Liquidation Leverage: $120,402-$119,127
Cumulative Long Liquidation Leverage: $116,374-$115,453
Note
Target Done
I hope you have benefited from the second Long Position.
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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.