Today, I want to analyze Bitcoin(
BTCUSDT) on the weekly time frame and answer these questions:
Can Bitcoin create a new All-time High(ATH) or not!?
At what price range can Bitcoin's uptrend end!?
When can we expect the uptrend to end!?
Please stay with me.
Bitcoin appears to have managed to break the Resistance lines, although we saw a fake break a few months ago, and it also appears to have a Hammer Candlestick Pattern in the previous weekly candle, which could signal the completion of Bitcoin's pullback to the Resistance lines(broken).
In terms of time, if we want to analyze the Bitcoin chart and look at Bitcoin's past, in general, the months of June(Average=-0.13%/Median=+2.20%) and especially July(Average=+7.56%/Median=+8.90%) have been among the most productive months for Bitcoin, and the months of August(Average=+1.75%/Median=-8.04%) and September(Average=-3.77%/Median=-4.35%) were the months when Bitcoin had a correction. Technical analysis tools show the end of the upward trend and the beginning of Bitcoin's correction at the Time Reversal Zone(TRZ=June 23 to August 4).
In terms of Elliott Wave theory, Bitcoin appears to be completing the main wave 5, as the main wave 3 was extended.
I expect Bitcoin to trend higher(+10%) in the coming weeks and create a new ATH. New ATH could be created in the Potential Reversal Zone(PRZ)[$130,000-$117,300] and TRZ, and then we can wait for the start of the main correction.
What do you think about Bitcoin’s future movement? Can Bitcoin create a new ATH? When and at what price?
Note: If Bitcoin falls below $100,000, we should expect further declines.
Please respect each other's ideas and express them politely if you agree or disagree.
Bitcoin Analyze (BTCUSDT), weekly 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) on the weekly time frame and answer these questions:Can Bitcoin create a new All-time High(ATH) or not!?
At what price range can Bitcoin's uptrend end!?
When can we expect the uptrend to end!?
Please stay with me.
Bitcoin appears to have managed to break the Resistance lines, although we saw a fake break a few months ago, and it also appears to have a Hammer Candlestick Pattern in the previous weekly candle, which could signal the completion of Bitcoin's pullback to the Resistance lines(broken).
In terms of time, if we want to analyze the Bitcoin chart and look at Bitcoin's past, in general, the months of June(Average=-0.13%/Median=+2.20%) and especially July(Average=+7.56%/Median=+8.90%) have been among the most productive months for Bitcoin, and the months of August(Average=+1.75%/Median=-8.04%) and September(Average=-3.77%/Median=-4.35%) were the months when Bitcoin had a correction. Technical analysis tools show the end of the upward trend and the beginning of Bitcoin's correction at the Time Reversal Zone(TRZ=June 23 to August 4).
In terms of Elliott Wave theory, Bitcoin appears to be completing the main wave 5, as the main wave 3 was extended.
I expect Bitcoin to trend higher(+10%) in the coming weeks and create a new ATH. New ATH could be created in the Potential Reversal Zone(PRZ)[$130,000-$117,300] and TRZ, and then we can wait for the start of the main correction.
What do you think about Bitcoin’s future movement? Can Bitcoin create a new ATH? When and at what price?
Note: If Bitcoin falls below $100,000, we should expect further declines.
Please respect each other's ideas and express them politely if you agree or disagree.
Bitcoin Analyze (BTCUSDT), weekly 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
Trade was activated
🎁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.
🎁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.