🚧Bitcoin will Go Down Again🚧

🔨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 ⏰.

Do not forget to put Stop loss for your positions (For every position you want to open).

Please follow your strategy; this is my Idea, and I will gladly see your ideas in this post.

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تعليق:

✅Running well✅

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✔️Target Done✔️

تعليق:

We have to wait to see, if BTC can break the support zone or not, I will try to update

تعليق:

Probably, Bitcoin will retrace to SMA(200)

تعليق:

As I said, Bitcoin touched the SMA(200).

This return of Bitcoin to the 🟢Support zone($27,600-$27,300)🟢 can also play the role of pullback to the downtrend line.

If the lower line of the ascending channel is broken, we can expect Bitcoin to at least fall to the 🟢Heavy Support zone($25,280-$23,900)🟢.