Bitcoin’s Next Move: Long Setup or Deeper Correction Below $95K?

٢٧ يناير

As I expected, Bitcoin(BTCUSDT) continued to fall to the Support zone($101,280-$99,500), and it even seems that it has broken.

Bitcoin is moving near the Support zone($101,280-$99,500), a set of support lines, the 50_SMA(Daily), and the Monthly Pivot Point.

According to the theory of Elliott waves, Bitcoin seems to have completed the main wave 3 and is completing the main wave 4.

I expect Bitcoin to follow the Roadmap I outlined in my chart in the coming hours. Because Bitcoin is near the set of support parameters, I chose the label of this idea as LONG.

Note: Like the previous Mondays, the purchase MicroStrategy company continues buying Bitcoin=>"MicroStrategy Buys 10,107 Bitcoin For $1.1 Billion."

Note: If Bitcoin can touch $104,200, it will fill the CME Gap($105,500-$104,695) in the next step, and it is possible to form a new All-Time High(ATH).

Note: If Bitcoin goes below $95,000, we should expect more corrections from Bitcoin.

Has the main Correction of Bitcoin started!? Please share your ideas in the comments.

Please respect each other's ideas and express them politely if you agree or disagree.

Bitcoin Analyze (BTCUSDT), 1-hour time frame.

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٢٨ يناير

تم فتح الصفقة

My short position was activated.

Bitcoin doesn't seem to be at a point where I personally want to go long at the moment, although I did have a long position on the $98,000-$102,500 rally, waiting for the next correction.

Currently, Bitcoin seems to be moving in a small ascending channel. This small ascending channel can contain corrective waves of wave 4.

I expect Bitcoin to decrease to at least $101,570 in the first target, and if the lower line of the small ascending channel breaks, we can expect more dumps.

Note: Bitcoin's increase in recent hours was not significant volume.

If we look at the chart of USDT.D% in the 1-hour time frame, we will notice that USDT.D% seems to be completing the Bullish Flag Pattern, and also, this index is apparently in wave 4, which can confirm our analysis.



Note: If Bitcoin touches $104,323, the scenario will change.

Note: The US indices(Federal Funds Rate, etc) that will be published tomorrow are very influential in what Bitcoin will trend.

قبل ٧ أيام

أغلقت الصفقة: تم الوصول للهدف

First Target Done

قبل ٦ أيام

ملاحظة

The CME Gap($105,500-$104,695) was filled.