Bitcoin Pullback or Trend Reversal? Key Levels to Watch!

3 févr.

Bitcoin failed to Break the $107,000 Resistance as in the Previous post (the 7th attack failed).

Bitcoin( BTCUSDT )is moving in the Resistance zone($100,520-$97,200), near the Support lines, the 50_SMA(Daily), and Monthly Pivot Point.

This upward movement these few hours can be in the form of a pullback to 50_SMA(Daily) and Support lines (broken). Of course, the worrisome point is the momentum of this upward movement.

According to the theory of Elliott waves, this increase of these few hours can be in the form of the main wave 4. The main wave 4 structure so far is a Zigzag correction(ABC/5-3-5).

I expect Bitcoin to once again attack the 100_SMA(Daily) and the Heavy Support zone($93,300-$90,500).

Cumulative Short Liquidation Leverage: $102,926-$100,450

Cumulative Long Liquidation Leverage: $92,570-$91,249

Note: If Bitcoin goes below $97,000, we should have more confidence that this analysis is correct.

Note: If the CME Gap($102,580-$100,320) fills in this uptrend, we should expect another attack on the $107,000 resistance.

Do you think the correction of Bitcoin continues, or should we wait for Bitcoin re-pumps in the coming hours? Please share your ideas in the comments.

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.

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4 févr.

Transaction en cours

Yesterday, although Bitcoin was able to reach above the Resistance zone($100,520-$97,200), Support lines (broken), 50_SMA(Daily), and Monthly Pivot Point, it is returning below these zones. One reason could be the volume of the breaking.

If we take a look at the USDT.D% chart, we can see that in order for Bitcoin to start a new uptrend, it must go below 100_SMA(Daily) and 50_SMA(Daily), and the resistance for USDT.D% is the 200_SMA(Daily) and the Yearly Pivot Point.I expect USDT.D% to attack the resistance zone again.

Note: If Bitcoin can go above $103,000, we should expect an increase to $107,000 and the possibility of breaking this resistance.

As I said in the post, the key price for the fall of Bitcoin can be $97,000, and if it touches $95,500, I hope for a further fall in Bitcoin.

Note: It is possible that President Trump's speech today can change the trend of the crypto market.

6 févr.

Trade fermée: cible de profit atteinte

First Target Done

Bitcoin failed to break the Resistance lines and 50_SMA (Daily) for the third time, and we should wait for the break of the important support of $95,500 and an attack on the 100_SMA (Daily).

As I expected, USDT.D% started an upward trend from 100_SMA (Daily), it may form an ascending channel.

Cumulative Short Liquidation Leverage: $100,013-$99,170

Cumulative Long Liquidation Leverage: $92,570-$91,249