Bitcoin(
BTCUSDT) has been experiencing a high momentum bullish trend in recent days, which few people expected, especially when it crossed $120,000. However, in the past 24 hours, Bitcoin has fallen back below $120,000.
Bitcoin is currently trading in the Resistance zone($119,720-$118,240) and Cumulative Short Liquidation Leverage($118,757-$117,829) on the 1-hour time frame.
In terms of Elliott Wave theory, Bitcoin appears to be completing a main wave 4. Main wave 4 is likely to have a Zigzag Correction(ABC/5-3-5).
I expect Bitcoin to attack the Support lines and fill the CME Gap($115,060-$114,947) in the next hour.
Cumulative Short Liquidation Leverage: $123,087-$120,922
Cumulative Long Liquidation Leverage: $116,305-$114,325
Do you think Bitcoin can create a new ATH again?
Note: Stop Loss(SL)= $121,000
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) has been experiencing a high momentum bullish trend in recent days, which few people expected, especially when it crossed $120,000. However, in the past 24 hours, Bitcoin has fallen back below $120,000.Bitcoin is currently trading in the Resistance zone($119,720-$118,240) and Cumulative Short Liquidation Leverage($118,757-$117,829) on the 1-hour time frame.
In terms of Elliott Wave theory, Bitcoin appears to be completing a main wave 4. Main wave 4 is likely to have a Zigzag Correction(ABC/5-3-5).
I expect Bitcoin to attack the Support lines and fill the CME Gap($115,060-$114,947) in the next hour.
Cumulative Short Liquidation Leverage: $123,087-$120,922
Cumulative Long Liquidation Leverage: $116,305-$114,325
Do you think Bitcoin can create a new ATH again?
Note: Stop Loss(SL)= $121,000
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.
Note
The upper CME Gap($118,590-$118,715) was filled.Trade active
Position was activatedNote
Bitcoin likely to re-attack Resistance zone($119,720-$118,240) update
Short position closed with profit.
Timeframe 15 minutes
Note
Long position=Target Done
As I expected, Bitcoin hit the Resistance zone($119,720-$118,240) again.
Note
Bitcoin is trading inside the Resistance zone($119,720-$118,240) and approaching a Potential Reversal Zone (PRZ) within an Ascending Channel. A new CME Gap ($117,255–$116,675) has formed below.
Timeframe 15 minutes
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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.