Bitcoin(
BTCUSDT) increased to $120,000 after breaking resistances, as I expected in my previous idea.
Bitcoin has already managed to break the Resistance zone($121,000-$119,000) and is moving near the Potential Reversal Zone(PRZ)[$127,830-$124,000].
According to Elliott Wave theory, Bitcoin is completing the 5th major impulse wave. In my opinion, this is the last bullish wave of Bitcoin, and after that we should wait for the main correction of Bitcoin. Do you agree with me that it is time to run and take profit!?
To get a better view of the main waves, I suggest you look at the idea below.
Also, since Bitcoin is correlated with the S&P500Index(
SPX) and since I also foresee the possibility of a correction in the S&P500 Index, it is also possible to expect a decrease in the price of Bitcoin based on the S&P500 Index analysis.
I expect Bitcoin to start declining after entering the Cumulative Short Liquidation Leverage($125,000-$122,580) and Potential Reversal Zone(PRZ)[$127,830-$124,000] and at least fill the CME Gap($119,100-$117,425).
Note: There are heavy sell orders around $125,000.
Cumulative Long Liquidation Leverage: $120,866-$119,442
Cumulative Long Liquidation Leverage: $117,743-$115,452
What is your opinion on Bitcoin and its trend? Can it see $130,000, or will a main correction begin?
Please respect each other's ideas and express them politely if you agree or disagree.
Bitcoin Analyze (BTCUSDT), 2-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) increased to $120,000 after breaking resistances, as I expected in my previous idea.Bitcoin has already managed to break the Resistance zone($121,000-$119,000) and is moving near the Potential Reversal Zone(PRZ)[$127,830-$124,000].
According to Elliott Wave theory, Bitcoin is completing the 5th major impulse wave. In my opinion, this is the last bullish wave of Bitcoin, and after that we should wait for the main correction of Bitcoin. Do you agree with me that it is time to run and take profit!?
To get a better view of the main waves, I suggest you look at the idea below.
Also, since Bitcoin is correlated with the S&P500Index(
SPX) and since I also foresee the possibility of a correction in the S&P500 Index, it is also possible to expect a decrease in the price of Bitcoin based on the S&P500 Index analysis.I expect Bitcoin to start declining after entering the Cumulative Short Liquidation Leverage($125,000-$122,580) and Potential Reversal Zone(PRZ)[$127,830-$124,000] and at least fill the CME Gap($119,100-$117,425).
Note: There are heavy sell orders around $125,000.
Cumulative Long Liquidation Leverage: $120,866-$119,442
Cumulative Long Liquidation Leverage: $117,743-$115,452
What is your opinion on Bitcoin and its trend? Can it see $130,000, or will a main correction begin?
Please respect each other's ideas and express them politely if you agree or disagree.
Bitcoin Analyze (BTCUSDT), 2-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
Since Bitcoin had not entered the Cumulative Short Liquidation Leverage($125,000-$122,580) and started to fall, I did not activate the short position. We cannot always analyze all the movements of the financial markets.
Currently, according to technical analysis and the US Indexes that were announced minutes ago, the probability that Bitcoin will attack the Resistance zone($121,000-$119,000) again is very high
So the long position was activated. Taking into account the Stop Loss(SL=$117,000).
Cumulative Short Liquidation Leverage: $125,000-$122,580
Cumulative Short Liquidation Leverage: $121,734-$121,146
Cumulative Long Liquidation Leverage: $118,011-$117,149
CME Gap(Update): $118,600-$117,425
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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
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🎁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.