Bitcoin(
BTCUSDT) reacted well to the Potential Reversal Zone(PRZ)[$127,830-$124,000] that I told you about in the previous idea and started to decline, but Bitcoin managed to create a new All-Time High(ATH=$124,474) in this rally.
Do you think Bitcoin can create a new All-Time High(ATH) again in the coming hours or should we wait for a main correction?
In terms of Elliott Wave theory, Bitcoin appears to have completed the main wave 5 in the Potential Reversal Zone(PRZ)[$127,830-$124,000], and we should expect corrective waves.
Also, we can see the Regular Divergence(RD-) between Consecutive Peaks.
Looking at the USDT.D%(USDT.D) chart, it also seems that with the breaking of the upper line of the descending channel, we can expect an increase in USDT.D%, which could cause a decrease in the price of Bitcoin.
I expect Bitcoin to at least move towards filling the CME Gap($118,600-$117,425) AFTER breaking the Support lines.
Cumulative Short Liquidation Leverage: $126,000-$124,367
Cumulative Long Liquidation Leverage: $118,000-$117,400
Note: Stop Loss(SL): $126,123
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) reacted well to the Potential Reversal Zone(PRZ)[$127,830-$124,000] that I told you about in the previous idea and started to decline, but Bitcoin managed to create a new All-Time High(ATH=$124,474) in this rally.Do you think Bitcoin can create a new All-Time High(ATH) again in the coming hours or should we wait for a main correction?
In terms of Elliott Wave theory, Bitcoin appears to have completed the main wave 5 in the Potential Reversal Zone(PRZ)[$127,830-$124,000], and we should expect corrective waves.
Also, we can see the Regular Divergence(RD-) between Consecutive Peaks.
Looking at the USDT.D%(
USDT.D) chart, it also seems that with the breaking of the upper line of the descending channel, we can expect an increase in USDT.D%, which could cause a decrease in the price of Bitcoin.I expect Bitcoin to at least move towards filling the CME Gap($118,600-$117,425) AFTER breaking the Support lines.
Cumulative Short Liquidation Leverage: $126,000-$124,367
Cumulative Long Liquidation Leverage: $118,000-$117,400
Note: Stop Loss(SL): $126,123
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
Trade was activated after BTC was able to break the support lines.Trade closed: target reached
First 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.