Bitcoin is moving in the Resistance zone($63,450_$62,100) and close to the 21_SMA(Weekly).
According to the Elliott wave theory, Bitcoin seems to be completing wave 4. (The Maximum of wave 4 can be up to $65,080, and the Potential Reversal Zone(PRZ) can continue.)
Before the better result, let's take a look at Market Cap BTC Dominance% (BTC.D%) and Market Cap USDT Dominance% (USDT.D%).
It seems that BTC.D% has managed to complete 5 impulse waves in the Heavy Resistance zone(60%_57%), and we should expect BTC.D% to fall in the coming days and weeks.
USDT.D% has managed to break the Important Downtrend line, and this indicates the increase of USDT.D% and possibly the break of the Resistance zone(5.54%_4.97%) in the following days, which also confirms the fall of Bitcoin.
I expect Bitcoin to attack the Heavy Support zone($61,100_$58,700) again after the completion of wave 4, and then Bitcoin will fall and at least fill the CME Gap($62,085_$60,400).
Note: If Bitcoin can touch $65,580, the scenario will change.
Note: An important point you should always remember is capital management and lack of greed.
Bitcoin Analyze (BTCUSDT), 4-hour time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; 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.
According to the Elliott wave theory, Bitcoin seems to be completing wave 4. (The Maximum of wave 4 can be up to $65,080, and the Potential Reversal Zone(PRZ) can continue.)
Before the better result, let's take a look at Market Cap BTC Dominance% (BTC.D%) and Market Cap USDT Dominance% (USDT.D%).
It seems that BTC.D% has managed to complete 5 impulse waves in the Heavy Resistance zone(60%_57%), and we should expect BTC.D% to fall in the coming days and weeks.
USDT.D% has managed to break the Important Downtrend line, and this indicates the increase of USDT.D% and possibly the break of the Resistance zone(5.54%_4.97%) in the following days, which also confirms the fall of Bitcoin.
I expect Bitcoin to attack the Heavy Support zone($61,100_$58,700) again after the completion of wave 4, and then Bitcoin will fall and at least fill the CME Gap($62,085_$60,400).
Note: If Bitcoin can touch $65,580, the scenario will change.
Note: An important point you should always remember is capital management and lack of greed.
Bitcoin Analyze (BTCUSDT), 4-hour time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; 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.
Dagangan aktif
Nota
Running well if BTC can break the support zone($62,500_$62,000), BTC will go down more.Nota
If BTC can break the support line, we can expect BTC will fall at least to $60,400.Dagangan ditutup: sasaran tercapai
Nota
CME Gap was filled as I expectedNota
BTC was able to break the Heavy support zone.
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🎁Get a 20% Discount on your trading FEE on BYBIT:👉partner.bybit.com/b/PEJMANZWIN
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🎁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
Penerbitan berkaitan
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Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.