BTC BULLISH SCENARIO 27.09.2024

قبل ٤ أيام📌Bullish Outlook:📌
📌Scenario 1 - 1D Timeframe:📌
This is the only bullish scenario currently under consideration. The confirmation for this setup would be a breakout above the previous ATH (All-Time High), which stands at $73,835.
Important Note:
This wave represents the final leg of the entire bullish cycle. It’s characterized by increased volatility and risk, as the uptrend could end abruptly.
How to Trade It:
Regularly take profits as the price moves higher.
Gradually exit positions instead of waiting for the absolute top.
The moment BTC hits the actual cycle top, it could see a 20-30% drop in a single day. Recoveries can take months or even years if one gets caught in this position, as the market could transition into a prolonged bear phase until the next bullish cycle.
Technical Details:
The analysis shows clear wave structures.
Wave 4 bottomed at $49,043, sitting on the 0.5 Fib level, a typical strong support for Wave 4 in Elliott Wave Theory.
Targets:
$85,406 – $92,679 — These are nominal targets based on current wave projections, without considering extended waves.
Invalidation Level: $52,413 — If the price falls below this point, it would confirm one of the bearish scenarios instead.
Causion:
BTC is currently at a critical juncture. While a bullish continuation is possible, it requires breaking the previous ATH to confirm. On the other hand, the bearish scenarios provide multiple levels of confirmation, including bearish divergences and trendline breaks, which could suggest a deeper correction if confirmed.
Traders should maintain a cautious approach, utilize appropriate risk management, and stay nimble as the market reveals more information.

⚠️ Disclaimer: ⚠️

🚫 This is not financial advice. Trade responsibly and conduct your own research before making any decisions.🚫