๐โโ๏ธBitcoin is moving inside the Ascending Channel and near the ๐ดResistance zone($35,300_$34,800)๐ด.
๐กAlso, we can see Regular Divergence(RD_) between two Consecutive Peaks.
๐According to the theory of Elliott waves, it seems that Bitcoin has managed to complete the microwave X of the main wave 4 above the ascending channel.
๐I expect Bitcoin to break down to at least the support line and then the ๐ขSupport Zone($33,500_$33,190)๐ข after breaking the lower line of the ascending channel.
๐If we want to take a simpler look at Bitcoin in the 4-hour time frame, we will notice that the time it took for Bitcoin to reach the ๐ดResistance zone($35,300_$34,800)๐ด this time is much longer than last time, and this indicates the weakness of the buyers. Also, the recent 4-hour candle is forming a Shooting Star Candlestick Pattern. As I said, I expect Bitcoin to drop to ๐ขSupport Zone($33,500_$33,190)๐ข.
โ๏ธโ ๏ธNoteโ ๏ธโ๏ธ: An important point you should always remember is capital management and lack of greed.
Bitcoin Analyze ( BTCUSDT ), 1-hour time frame โฐ.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the โ ' like'โ button ๐๐ & Share it with your friends; thanks, and Trade safe.
๐กAlso, we can see Regular Divergence(RD_) between two Consecutive Peaks.
๐According to the theory of Elliott waves, it seems that Bitcoin has managed to complete the microwave X of the main wave 4 above the ascending channel.
๐I expect Bitcoin to break down to at least the support line and then the ๐ขSupport Zone($33,500_$33,190)๐ข after breaking the lower line of the ascending channel.
๐If we want to take a simpler look at Bitcoin in the 4-hour time frame, we will notice that the time it took for Bitcoin to reach the ๐ดResistance zone($35,300_$34,800)๐ด this time is much longer than last time, and this indicates the weakness of the buyers. Also, the recent 4-hour candle is forming a Shooting Star Candlestick Pattern. As I said, I expect Bitcoin to drop to ๐ขSupport Zone($33,500_$33,190)๐ข.
โ๏ธโ ๏ธNoteโ ๏ธโ๏ธ: An important point you should always remember is capital management and lack of greed.
Bitcoin Analyze ( BTCUSDT ), 1-hour time frame โฐ.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the โ ' like'โ button ๐๐ & Share it with your friends; thanks, and Trade safe.
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๐Please follow us on Telegram for more analysis.๐ t.me/ProTrader_365
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๐Please follow us on Telegram for more analysis.๐ t.me/ProTrader_365
๐Get a 20% Discount on your trading FEE on Bingx: shorturl.at/cfhE3