💎 BTC WEEKLY PLAN UPDATE (11/08)
1. Overall Trend:
BTC has completed a 5-wave Elliott impulse and is currently in a corrective phase after wave (5).
The main trend remains bullish, as the wave structure has not broken and price is still above key EMA lines.
2. Fibonacci Levels:
The current correction may retrace to the following Fibonacci support levels:
• 0.382 Fibo: ~118,800 USD (aligns with strong support)
• 0.5 Fibo: ~117,800 USD (close to EMA and trendline)
These are potential price zones where the market may rebound.
3. Support & Resistance Zones:
• Near-term Support: 118,000 – 117,500 USD (combination of Fibo + EMA + broken trendline).
• Near-term Resistance: 120,000 USD (previous high).
• Next Resistance: 122,000 – 123,000 USD (Fibo extension target 2.618).
4. Main Scenario:
BTC retraces to 118K – 117.5K → rebounds → breaks 120K → moves towards 122K – 123K.
5. Trading Notes:
• Prioritize entries when price reacts well at 118K – 117.5K support zone.
• Stop loss if H4 closes below 117K.
• Stay patient, as corrections are normal before the next upward move.
1. Overall Trend:
BTC has completed a 5-wave Elliott impulse and is currently in a corrective phase after wave (5).
The main trend remains bullish, as the wave structure has not broken and price is still above key EMA lines.
2. Fibonacci Levels:
The current correction may retrace to the following Fibonacci support levels:
• 0.382 Fibo: ~118,800 USD (aligns with strong support)
• 0.5 Fibo: ~117,800 USD (close to EMA and trendline)
These are potential price zones where the market may rebound.
3. Support & Resistance Zones:
• Near-term Support: 118,000 – 117,500 USD (combination of Fibo + EMA + broken trendline).
• Near-term Resistance: 120,000 USD (previous high).
• Next Resistance: 122,000 – 123,000 USD (Fibo extension target 2.618).
4. Main Scenario:
BTC retraces to 118K – 117.5K → rebounds → breaks 120K → moves towards 122K – 123K.
5. Trading Notes:
• Prioritize entries when price reacts well at 118K – 117.5K support zone.
• Stop loss if H4 closes below 117K.
• Stay patient, as corrections are normal before the next upward move.
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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.
Dear My Friends,
NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
✅ NEW UPDATE : Signals free in Telegram:
t.me/+1mFSljRaI5RlNjg1
NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
✅ NEW UPDATE : Signals free in Telegram:
t.me/+1mFSljRaI5RlNjg1
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.