Bitcoin at Resistance: Expanding Triangle Hold=>Last Chance!!!

il y a 5 jours

Bitcoin(BTCUSDT) is moving in the Resistance zone($104,700-$101,920), near the upper lines (resistance role) of the Expanding Triangle Pattern, Monthly Resistance(1), and Time Reversal Zone(TRZ).

In terms of Classic Technical Analysis, Bitcoin seems to be moving in an Expanding Triangle Pattern during the last 30 days . If the upper line is validly broken, this pattern will be failed.

According to the theory of Elliott waves, it seems that Bitcoin can move in an Expanding Flat(ABC/3-3-5) in the 4-hour time frame. Bitcoin is currently completing microwave 5 of the main wave C. If Bitcoin touches $107,000, the possibility of this corrective pattern being failed is very high.

I expect Bitcoin to drop to at least $100,000.

Note: If Bitcoin goes below $107,000, we can expect BTC to make a new All-time High(ATH).

Note: There is also the possibility of Bulltrap formation.

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Bitcoin Analyze (BTCUSDT), 4-hour time frame⏰.

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il y a 5 jours

Transaction en cours

Trade was activated when BTC was entered into Cumulative Short Liquidation Leverage($106,454-$104,955).

Also, I did Risk-Free.

il y a 5 jours

Note

The Time Reversal Zone(TRZ) and Cumulative Short Liquidation Leverage($106,454-$104,955) worked well. If the Uptrend line breaks, we must wait for more falls.

Lower prices are more attractive for long-position liquidation (high volume).

The first target can be the Support zone($99,000-$97,300) and Support lines.

The trading volumes are low on Saturdays and Sundays, and there is a possibility that Bitcoin will be in a range during this time of the day.

il y a 3 jours

Trade fermée: cible de profit atteinte

First Target Done

Bitcoin failed to touch $107,000, which was a key level for me.

Considering the momentum of the fall, maybe the Support zone($99,000-$97,300) will be broken.