Bitcoin is frustrated, so are the traders... ๐ โ ๏ธ ๐
Hi everyone ๐๐ฝ
๐ Wish y'all have a profitable lifestyle ๐
๐ BTCUSDT- Daily Time Frame - Heiken Ashi
๐ Supply Demand - Wave Analysis - Support Resistance
๐BTCUSDT chart is looking so complicated nowadays... with having so many NEWS and such different ideas about the price's future
๐Let's go straight to the point, from Elliott wave point of view we may see a retest and pullback to 2 zones to complete the bullish correction of the previous bearish momentum:
1- 53600
2- 56800
๐After the pullback we may see the 41900$ which is the 0.5% Fibonacci and even 39600$ which is the 0.681% Fibonacci (I do not think we will see the second level) to complete the 5th elliott wave.
โ๐ผ I personally think BTC and Crypto did not reverse in a bearish cycle yet so we still have some time left especially before the end of 2021.
โ๐ผ I guess we might see another ATH before December but if this time price fails to break the 65k-69k zones we might need a very long time to see another ATH ever again!
โ ๏ธ HOWEVER I want to mention that price growth is REALLY slowing down and becomes so frustrating at the moment; I can remember 30k zones back early this year; if we compare these 2 zone together we can clearly feel the frustration and how much lack of hype can influence the charts
โ ๏ธ The latest correction / dump happened vastly due to the new OMICORN so called ''virus'' or ''pandemic'' but why did not we see a very huge dump as we have seen like the 13th March ? But WHY?
โ๐ผ I have 3 answers for that:
1- People know how to deal with a new pandemic or so called "VIRUS"!
2- The fear about the new variant of so called "VIRUS" did not last long
3- WHALES did not feel like to dump the charts more than that :))
๐ค One thing that does annoys me is how unrealistic some predictions / TAs look in TradingView ideas?
๐ค How can someone have a 300k price target before end of the year, but suddenly after the 30% correction their target changes to 10k?
โ ๏ธ It is very dangerous for other traders to follow others ideas especially with lack of evidence and or knowledge
โ ๏ธ For having a 300k Bitcoin we need more than 5 trillion dollar TOTAL market cap and if you look wisely at the TOTAL chart you may find it a little bit unrealistic !
This is TOTAL chart along with RSI and its Hidden Divergence !
โ ๏ธ Your money is valuable and so is your time. Do not rely on other opinions when trading and or investing!!! <3
THIS IS NOT A FINANCIAL ADVICE
PLEASE DO YOUR OWN RESEARCH BEFORE TAKING ANY SELL OR BUY POSITION
GOOD LUCK
NP TRADER
๐ Wish y'all have a profitable lifestyle ๐
๐ BTCUSDT- Daily Time Frame - Heiken Ashi
๐ Supply Demand - Wave Analysis - Support Resistance
๐BTCUSDT chart is looking so complicated nowadays... with having so many NEWS and such different ideas about the price's future
๐Let's go straight to the point, from Elliott wave point of view we may see a retest and pullback to 2 zones to complete the bullish correction of the previous bearish momentum:
1- 53600
2- 56800
๐After the pullback we may see the 41900$ which is the 0.5% Fibonacci and even 39600$ which is the 0.681% Fibonacci (I do not think we will see the second level) to complete the 5th elliott wave.
โ๐ผ I personally think BTC and Crypto did not reverse in a bearish cycle yet so we still have some time left especially before the end of 2021.
โ๐ผ I guess we might see another ATH before December but if this time price fails to break the 65k-69k zones we might need a very long time to see another ATH ever again!
โ ๏ธ HOWEVER I want to mention that price growth is REALLY slowing down and becomes so frustrating at the moment; I can remember 30k zones back early this year; if we compare these 2 zone together we can clearly feel the frustration and how much lack of hype can influence the charts
โ ๏ธ The latest correction / dump happened vastly due to the new OMICORN so called ''virus'' or ''pandemic'' but why did not we see a very huge dump as we have seen like the 13th March ? But WHY?
โ๐ผ I have 3 answers for that:
1- People know how to deal with a new pandemic or so called "VIRUS"!
2- The fear about the new variant of so called "VIRUS" did not last long
3- WHALES did not feel like to dump the charts more than that :))
๐ค One thing that does annoys me is how unrealistic some predictions / TAs look in TradingView ideas?
๐ค How can someone have a 300k price target before end of the year, but suddenly after the 30% correction their target changes to 10k?
โ ๏ธ It is very dangerous for other traders to follow others ideas especially with lack of evidence and or knowledge
โ ๏ธ For having a 300k Bitcoin we need more than 5 trillion dollar TOTAL market cap and if you look wisely at the TOTAL chart you may find it a little bit unrealistic !
This is TOTAL chart along with RSI and its Hidden Divergence !
โ ๏ธ Your money is valuable and so is your time. Do not rely on other opinions when trading and or investing!!! <3
THIS IS NOT A FINANCIAL ADVICE
PLEASE DO YOUR OWN RESEARCH BEFORE TAKING ANY SELL OR BUY POSITION
GOOD LUCK
NP TRADER
ืขืกืงื ืคืขืืื:
Will wait till the next weekly candle and this candle to be closed...
If it could manage to close above or even at 38k-40k levels then we can confirm a potential pullback to the 53k - 56k levels
If not the lower prices are expected
If it could manage to close above or even at 38k-40k levels then we can confirm a potential pullback to the 53k - 56k levels
If not the lower prices are expected
ืขืกืงื ืคืขืืื:
The price have already broken the 40k's levels so far...
We shall be ready for the further bearish movements
The next very important support line is the 29k's
We shall be ready for the further bearish movements
The next very important support line is the 29k's