BTC - Key Battle Between Bulls and Bears – Symmetrical Triangle

19 Jun

Bitcoin(BTCUSDT) is currently consolidating within a Symmetrical Triangle, showing indecision among Bulls and Bears around the Support zone($104,380-$103,060) and just above the 50_SMA (Daily).

From an Elliott Wave perspective, the current range may represent a WXY corrective structure. The market seems to be waiting for a breakout direction, potentially aiming to complete wave 5 after this correction.

The Monthly Pivot Point($103,300) and the presence of significant Cumulative Liquidation Leverage Zones (both Long and Short) are key liquidity magnets to watch in the short term.

I expect Bitcoin to re-attack the Support zone($104,380-$103,060) AFTER breaking the lower line of the Symmetrical Triangle Pattern and decline to the targets I have outlined on the chart.

Note: Stop Loss: $106,703 = Worst Stop Loss(SL)

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Bitcoin Analyze (BTCUSDT), 1-hour 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.

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20 Jun

Dagangan ditutup: hentian tercapai

Stop Loss was touched after BTC was able to break the upper line of triangle.