Bitcoin’s Fake Breakouts—Bears Taking Control!?

7 Feb

Bitcoin(BTCUSDT) failed to defeat Resistance zone($100,520-$97,200), the 50_SMA(Daily), and the Monthly Pivot Point for the umpteenth time and even created a Fake Break.

It also seems that Bitcoin has been unable to break the Resistance lines.

According to the theory of Elliott waves, it seems that Bitcoin has succeeded in completing the corrective wave so that the structure of the main wave C is the Expanding Ending Diagonal.

I expect Bitcoin to break the Support zone($96,520-$95,720) and touch $95,500 this time, I told you about the importance of this price in the previous post.

Note: If Bitcoin can break the Resistance zone($100,520-$97,200), the 50_SMA(Daily), and the Monthly Pivot Point, we should expect an increase to Cumulative Short Liquidation Leverage($103,210-$102,454).

It doesn't seem reasonable for Bitcoin these days to provide a long-term or even mid-term analysis, and we need to stick to a series of resistance and support levels in order to determine the next targets. Do you agree with me?


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.

Do not forget to put 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.

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8 Feb

Dagangan aktif

Trade was activated

You can Risk-Free the short position = if Bitcoin bounces back from the Support zone($96,520-$95,720)[Again].

9 Feb

Dagangan ditutup: sasaran tercapai

Target Done

It took some time, but maybe one of the reasons was that, generally, the trading volume is low on Saturdays and Sundays.