📊Trading ideas for the final sprint of #BTC🧠

2 בדצמ׳ 2023

➡️From a data perspective👀
Positions on major mainstream exchanges began to increase rapidly, which meant that a large number of retail investors began to enter the market. It seems that the popularity of BTC in the world has been mentioned again, but this is often not a good thing, because this is exactly what the main players want to see, and they will reduce their holdings in batches until huge dumping occurs. When the liquidation data on a certain day begins to show an astonishing amount of more than a billion dollars, it can basically be declared that this wave of rise is over.

➡️From a technical point of view👀
We have been rising all the way up based on the smiling face bullish structure below, so the ideal target of this structure is the mid-term TP zone. If we look at it according to the Elliott pulse wave, the increase in waves 4-5 of the previous pulse wave was 59.01% , and the current increase in waves 4-5 in this period is also about 59% when it reaches fib0.5. History does not always repeat, but it often rhymes. 🐾

⚠️In addition, the vicinity of fib0.5 is generally regarded as a key support and resistance transition point. Combined with the previous K-line, there are also many high and low points that overlap with the K-line. We will also face the round-number hurdle of $40,000 that most investors are looking forward to. Therefore, when we reach $40,000-$42,289, we will definitely encounter serious resistance. I would not be surprised if there is another negative K-line with a large cycle closing at that time. Whether it is analyzed according to the wave theory, graphic structure, or Fibonacci sequence, this is completely logical. 🧠💯✔️

➡️So we are not in a hurry to go short now, just wait for the negative K-line to close in the big cycle! If you are bullish, you need to remain vigilant at all times, do a good job in risk management, and try to be risk-free or low-risk to achieve the ideal target zone. ☕️🎯✔️

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