Bitcoin’s Next Challenge – Can BTC Break the Heavy Resistance?

24 Mac

Bitcoin(BTCUSDT) started to rise from the Support zone($84,120_$81,500) as I expected in the previous post. The question is, can Bitcoin break the Heavy Resistance zone($93,300_$89,200) and Resistance lines?

Please stay with me.

Bitcoin appears to have broken through the Resistance zone($87,100_$85,800) and is preparing for its first attack on the Heavy Resistance zone($93,300_$89,200).

In terms of waves, Bitcoin appears to be completing microwave 4 of microwave C of the main wave Y. The waves structure inside the Ascending Channel appears to be of the Double Three Correction(WXY).

I expect Bitcoin to prepare for its first attack on the Heavy Resistance zone($93,300_$89,200), the upper line of the ascending channel, the monthly pivot point, 50_SMA(Daily), and the Resistance lines after completing the pullback to the Resistance zone($87,100_$85,800) and fill first CME Gap($86,640_$86,520). I think the Potential Reversal Zone(PRZ)[$90,200_$88,400] could be the zone to start a new decline for Bitcoin.

I chose the label of this analysis ''SHORT'' because I think Bitcoin is in a bit of a risky zone for a LONG position, what do you think?

Note: If Bitcoin goes over $91,000, we can expect more pumps.

Note: If Bitcoin falls below $85,200 before hitting the Heavy Resistance zone($93,300_$89,200), we can expect further declines.

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Bitcoin Analyze (BTCUSDT), 2-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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25 Mac

Dagangan aktif

Potential Reversal Zone(PRZ)[$90,200_$88,400] worked well, and I opened a short position when BTC was entered into PRZ. now, I am in a long position.

26 Mac

Dagangan ditutup: sasaran tercapai

I closed the Long Position

Target Done.

This analysis was almost successful in three Bitcoin moves.