💎 BTC PLAN UPDATE (July 17)
NOTABLE NEWS ABOUT BTC
Bitcoin Price Forecast: BTC Recovers as Trump Steps In to Revive Crypto Legislation Momentum
Bitcoin (BTC) saw a mild recovery, trading around $119,000 at the time of writing on Wednesday, after falling nearly 2% the previous day. This rebound followed an announcement by U.S. President Donald Trump on Wednesday morning, stating that the GENIUS Act is ready to be passed by the House during the legislative “Crypto Week”, sparking optimism in the crypto market. Furthermore, institutional demand continues to grow, with spot Bitcoin ETFs recording over $400 million in inflows on Tuesday, extending the growth streak since July 2.
TECHNICAL ANALYSIS
🧠 Pattern Overview:
The chart clearly displays an Elliott Wave pattern (1) → (2) → (3) → (4) → (5) along with Fibonacci Retracement and Extension levels, helping to identify potential support and resistance zones.
1. Elliott Waves:
Wave (3) was completed around the $122,144 zone and the market is currently in the corrective wave (4).
Wave (5) is expected to move upward with targets at:
• 1.618 Fibonacci Extension: ~$127,404
• Or further: ~$130,747
2. Support Zone (grey area below):
Located around $115,000 – $116,000, which is:
• The 0.5 – 0.618 retracement of Wave (3)
• Aligned with the EMA200 and dotted black trendline support.
If the price falls into this area, it’s highly likely to bounce back and form Wave (5).
3. Danger Zone if Broken:
If this support fails, price may fall deeper to:
• $113,200 (0.786 retracement),
• Or even lower: $111,600 – $111,800
4. Potential Scenarios:
Two main outcomes:
• Continued Uptrend: Price bounces from the support zone and heads toward $127,000 – $130,000
• Breakdown: If the support breaks, a deeper decline may occur, breaking the wave structure.
Follow the channel for continuous and up-to-date analysis on XAUUSD, CURRENCIES, and BTC.
NOTABLE NEWS ABOUT BTC
Bitcoin Price Forecast: BTC Recovers as Trump Steps In to Revive Crypto Legislation Momentum
Bitcoin (BTC) saw a mild recovery, trading around $119,000 at the time of writing on Wednesday, after falling nearly 2% the previous day. This rebound followed an announcement by U.S. President Donald Trump on Wednesday morning, stating that the GENIUS Act is ready to be passed by the House during the legislative “Crypto Week”, sparking optimism in the crypto market. Furthermore, institutional demand continues to grow, with spot Bitcoin ETFs recording over $400 million in inflows on Tuesday, extending the growth streak since July 2.
TECHNICAL ANALYSIS
🧠 Pattern Overview:
The chart clearly displays an Elliott Wave pattern (1) → (2) → (3) → (4) → (5) along with Fibonacci Retracement and Extension levels, helping to identify potential support and resistance zones.
1. Elliott Waves:
Wave (3) was completed around the $122,144 zone and the market is currently in the corrective wave (4).
Wave (5) is expected to move upward with targets at:
• 1.618 Fibonacci Extension: ~$127,404
• Or further: ~$130,747
2. Support Zone (grey area below):
Located around $115,000 – $116,000, which is:
• The 0.5 – 0.618 retracement of Wave (3)
• Aligned with the EMA200 and dotted black trendline support.
If the price falls into this area, it’s highly likely to bounce back and form Wave (5).
3. Danger Zone if Broken:
If this support fails, price may fall deeper to:
• $113,200 (0.786 retracement),
• Or even lower: $111,600 – $111,800
4. Potential Scenarios:
Two main outcomes:
• Continued Uptrend: Price bounces from the support zone and heads toward $127,000 – $130,000
• Breakdown: If the support breaks, a deeper decline may occur, breaking the wave structure.
Follow the channel for continuous and up-to-date analysis on XAUUSD, CURRENCIES, and BTC.
Dear My Friends,
NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
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NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
✅ NEW UPDATE : Signals free in Telegram:
t.me/+1mFSljRaI5RlNjg1
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.
Dear My Friends,
NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
✅ NEW UPDATE : Signals free in Telegram:
t.me/+1mFSljRaI5RlNjg1
NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
✅ NEW UPDATE : Signals free in Telegram:
t.me/+1mFSljRaI5RlNjg1
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.