Bitcoin(
BTCUSDT) started to fall as I expected in the previous idea, but failed to break the Heavy Resistance zone($110,000-$105,820).
Bitcoin is trading near the Resistance zone($107,520-$105,940), Cumulative Short Liquidation Leverage($106,720-$105,948), and the Resistance lines.
From the perspective of Elliott Wave theory, Bitcoin appears to have completed a main wave 4 near the Resistance lines. The structure of the main wave 4 was a Double Three Correction(WXY). One of the signs of the completion of the main wave 4 could be the Evening Star Candlestick Pattern.
I expect Bitcoin to decline to at least Cumulative Long Liquidation Leverage($103,666-$102,800) AFTER breaking the Support line, and the next target is the Support zone($102,000-$107,120).
Note: Rising tensions between Russia and Ukraine could help drive down Bitcoin.
Note: If Bitcoin touches $107,600, we can expect more pumps.
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) started to fall as I expected in the previous idea, but failed to break the Heavy Resistance zone($110,000-$105,820).Bitcoin is trading near the Resistance zone($107,520-$105,940), Cumulative Short Liquidation Leverage($106,720-$105,948), and the Resistance lines.
From the perspective of Elliott Wave theory, Bitcoin appears to have completed a main wave 4 near the Resistance lines. The structure of the main wave 4 was a Double Three Correction(WXY). One of the signs of the completion of the main wave 4 could be the Evening Star Candlestick Pattern.
I expect Bitcoin to decline to at least Cumulative Long Liquidation Leverage($103,666-$102,800) AFTER breaking the Support line, and the next target is the Support zone($102,000-$107,120).
Note: Rising tensions between Russia and Ukraine could help drive down Bitcoin.
Note: If Bitcoin touches $107,600, we can expect more pumps.
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
Since Bitcoin did not reach $106,680, I am still short position, and this price can be used as a stop-loss for the short position.
The updated analysis is indicated on the chart.
Cumulative Short Liquidation Leverage($107,302-$106,487)
Cumulative Long Liquidation Leverage($103,389-$102,800)
Cumulative Long Liquidation Leverage($102,247-$101,840)
Note
you can set your Stop loss = $107,003Note
Stop loss position at 105,343 USDT = Risk-FreeTrade closed manually
Risk-Free was touched
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🎁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.