Bitcoin(
BTCUSDT) managed to pump as I expected yesterday, of course, the main catalyst could have been the ceasefire announcement between Iran and Israel, which had a major impact on high and medium risk assets in the financial markets.
Bitcoin is once again moving near the Heavy Resistance zone($110,720-$105,820) and the Resistance zone($107,520-$106,100) after breaking the Resistance lines.
In terms of Elliott Wave theory, it seems that given Bitcoin’s bullish momentum, Bitcoin has completed the main wave 3 and is currently completing the main wave 4 on the 1-hour time frame. The corrective wave structure of wave 4 could be a Double Three Correction(WXY).
I expect Bitcoin to start rising again near the Support zone($104,380-$103,060), 50_SMA(Daily), Support lines, and Cumulative Long Liquidation Leverage($104,412-$103,812) to rise at least to the Potential Reversal Zone(PRZ)[$108,140-$106,950] and Resistance lines.
Note: Stop Loss(SL)= $102,600 = We can expect more dumps.
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) managed to pump as I expected yesterday, of course, the main catalyst could have been the ceasefire announcement between Iran and Israel, which had a major impact on high and medium risk assets in the financial markets.Bitcoin is once again moving near the Heavy Resistance zone($110,720-$105,820) and the Resistance zone($107,520-$106,100) after breaking the Resistance lines.
In terms of Elliott Wave theory, it seems that given Bitcoin’s bullish momentum, Bitcoin has completed the main wave 3 and is currently completing the main wave 4 on the 1-hour time frame. The corrective wave structure of wave 4 could be a Double Three Correction(WXY).
I expect Bitcoin to start rising again near the Support zone($104,380-$103,060), 50_SMA(Daily), Support lines, and Cumulative Long Liquidation Leverage($104,412-$103,812) to rise at least to the Potential Reversal Zone(PRZ)[$108,140-$106,950] and Resistance lines.
Note: Stop Loss(SL)= $102,600 = We can expect more dumps.
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
Long Position was activated
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.