🔨Bitcoin started to rise from the 🟢Heavy Support zone($25,280-$23,900)🟢 and was able to break the Downtrend line yesterday.
✅Also, Bitcoin has managed to form an Ascending channel.
🏃♂️Bitcoin is currently moving in the 🔴Resistance zone($28,460-$28,000)🔴 near the SMA(100) and near the upper line of the ascending channel.
💡Also, we can see the Regular Divergence(RD-) between Price and Volume.
🌊In terms of Elliott Waves, Bitcoin managed to complete the main corrective wave A at the 🟢Heavy Support zone($25,280-$23,900)🟢 and is currently completing the main wave B.
📚Since the main wave A is five microwaves, we have to wait for the Zigzag correction(ABC/5-3-5), and the higher the end of the main wave B is at higher prices, we expect the main wave C to be weaker.
📚☠️Death Cross Signal☠️: The death cross appears on a chart when an asset's short-term Moving Average(MA), usually the 50-day, crosses below its long-term moving average, usually the 200-day.
🔔I expect the microwave C of the main wave B to finish at the 🔴Resistance zone🔴 or at the 🟡Price Reversal Zone(PRZ)🟡, and then Bitcoin will ⚔️Attack⚔️ the lower line of the ascending channel.
Bitcoin Analyze ( BTCUSDT ), Daily time frame ⏰.
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