Bitcoin(
BTCUSDT) moved as I expected in the previous ideas and finally completed the CME Gap($117,255-$116,675) in the last hours of the week. (First Idea_Second Idea)
Before starting today's analysis, it is important to note that trading volume is generally low on Saturday and Sunday, and we may not see a big move and Bitcoin will move in the range of $121,000 to $115,000 (in the best case scenario and if no special news comes).
Bitcoin is currently trading near the Support zone($116,900-$115,730), Cumulative Long Liquidation Leverage($116,881-$115,468), Potential Reversal Zone(PRZ)[$116,330-$115,670], and Support lines.
According to Elliott Wave theory, Bitcoin had a temporary pump after the "GENIUS stablecoin bill clears House and heads to Trump's desk" news, but then started to fall again, confirming the end of the Zigzag Correction(ABC/5-3-5). Now we have to wait for the next 5 down waves or the corrective waves will be complicated.
I expect Bitcoin to rebound from the existing supports and rise to at least $118,600. The second target could be the Resistance lines.
Do you think Bitcoin will fill the CME Gap($115,060-$114,947) in this price drop?
Cumulative Short Liquidation Leverage: $121,519-$119,941
Do you think Bitcoin can create a new ATH again?
Note: Stop Loss(SL)= $114,700
Please respect each other's ideas and express them politely if you agree or disagree.
Bitcoin Analyze (BTCUSDT), 15-minute 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 as I expected in the previous ideas and finally completed the CME Gap($117,255-$116,675) in the last hours of the week. (First Idea_Second Idea)Before starting today's analysis, it is important to note that trading volume is generally low on Saturday and Sunday, and we may not see a big move and Bitcoin will move in the range of $121,000 to $115,000 (in the best case scenario and if no special news comes).
Bitcoin is currently trading near the Support zone($116,900-$115,730), Cumulative Long Liquidation Leverage($116,881-$115,468), Potential Reversal Zone(PRZ)[$116,330-$115,670], and Support lines.
According to Elliott Wave theory, Bitcoin had a temporary pump after the "GENIUS stablecoin bill clears House and heads to Trump's desk" news, but then started to fall again, confirming the end of the Zigzag Correction(ABC/5-3-5). Now we have to wait for the next 5 down waves or the corrective waves will be complicated.
I expect Bitcoin to rebound from the existing supports and rise to at least $118,600. The second target could be the Resistance lines.
Do you think Bitcoin will fill the CME Gap($115,060-$114,947) in this price drop?
Cumulative Short Liquidation Leverage: $121,519-$119,941
Do you think Bitcoin can create a new ATH again?
Note: Stop Loss(SL)= $114,700
Please respect each other's ideas and express them politely if you agree or disagree.
Bitcoin Analyze (BTCUSDT), 15-minute 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
Short Position was activated
Cumulative Short Liquidation Leverage: $119,472-$118,932
Cumulative Long Liquidation Leverage: $117,000-$116,500
Timeframe 15 minutes
Trade closed: target reached
Target Done
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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.