Bitcoin(
BTCUSDT) is currently consolidating within a Symmetrical Triangle, showing indecision among Bulls and Bears around the Support zone($104,380-$103,060) and just above the 50_SMA (Daily).
From an Elliott Wave perspective, the current range may represent a WXY corrective structure. The market seems to be waiting for a breakout direction, potentially aiming to complete wave 5 after this correction.
The Monthly Pivot Point($103,300) and the presence of significant Cumulative Liquidation Leverage Zones (both Long and Short) are key liquidity magnets to watch in the short term.
I expect Bitcoin to re-attack the Support zone($104,380-$103,060) AFTER breaking the lower line of the Symmetrical Triangle Pattern and decline to the targets I have outlined on the chart.
Note: Stop Loss: $106,703 = Worst Stop Loss(SL)
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) is currently consolidating within a Symmetrical Triangle, showing indecision among Bulls and Bears around the Support zone($104,380-$103,060) and just above the 50_SMA (Daily).From an Elliott Wave perspective, the current range may represent a WXY corrective structure. The market seems to be waiting for a breakout direction, potentially aiming to complete wave 5 after this correction.
The Monthly Pivot Point($103,300) and the presence of significant Cumulative Liquidation Leverage Zones (both Long and Short) are key liquidity magnets to watch in the short term.
I expect Bitcoin to re-attack the Support zone($104,380-$103,060) AFTER breaking the lower line of the Symmetrical Triangle Pattern and decline to the targets I have outlined on the chart.
Note: Stop Loss: $106,703 = Worst Stop Loss(SL)
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 closed: stop reached
Stop Loss was touched after BTC was able to break the upper line of triangle.
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Disclaimer
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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.