Bitcoin(
BTCUSDT) has managed to break the Support zone($114,720-$113,570)/Now=Resistance zone and 50_EMA(Daily), as I expected in the previous idea. And now it seems that Bitcoin is completing a pullback.
Also, on the 1-hour time frame, if you look closely, Bitcoin seems to be moving inside a descending channel.
In terms of Elliott wave theory, Bitcoin seems to be completing microwave 4 of the main wave 3, so that microwave 4 could have an Expanding Flat structure(ABC/3-3-5).
I expect Bitcoin to drop to at least $112,640 after completing the pullback (microwave 4 of the main wave 3).
Second Target: $112,323
Cumulative Short Liquidation Leverage: $116,755-$115,778
Cumulative Short Liquidation Leverage: $114,500-$114,077
Cumulative Long Liquidation Leverage: $112,615-$111,743
Note: From today until Friday, important indexes will be released from the US, which can create excitement in financial markets, especially crypto, and even change the market trend when released.
Note: Most likely, after Bitcoin touches the Heavy Support zone($111,980-$105,820) and 100_SMA(Daily), we should wait for Bitcoin to bounce back (you might be able to look for a long position trigger in that zone).
Note: Stop Loss(SL): $114,823
Please respect each other's ideas and express them politely if you agree or disagree.
Bitcoin Analyze (BTCUSDT), 15-minute 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 managed to break the Support zone($114,720-$113,570)/Now=Resistance zone and 50_EMA(Daily), as I expected in the previous idea. And now it seems that Bitcoin is completing a pullback.Also, on the 1-hour time frame, if you look closely, Bitcoin seems to be moving inside a descending channel.
In terms of Elliott wave theory, Bitcoin seems to be completing microwave 4 of the main wave 3, so that microwave 4 could have an Expanding Flat structure(ABC/3-3-5).
I expect Bitcoin to drop to at least $112,640 after completing the pullback (microwave 4 of the main wave 3).
Second Target: $112,323
Cumulative Short Liquidation Leverage: $116,755-$115,778
Cumulative Short Liquidation Leverage: $114,500-$114,077
Cumulative Long Liquidation Leverage: $112,615-$111,743
Note: From today until Friday, important indexes will be released from the US, which can create excitement in financial markets, especially crypto, and even change the market trend when released.
Note: Most likely, after Bitcoin touches the Heavy Support zone($111,980-$105,820) and 100_SMA(Daily), we should wait for Bitcoin to bounce back (you might be able to look for a long position trigger in that zone).
Note: Stop Loss(SL): $114,823
Please respect each other's ideas and express them politely if you agree or disagree.
Bitcoin Analyze (BTCUSDT), 15-minute 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
Trade was activated in the Resistance zone($114,720-$113,570)Trade closed: target reached
First Target Done =>$112,640
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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.