Bitcoin / TetherUSืฉืืจื
Bitcoin Analysis (It's time for Bears๐ป๐งธ๐ผ)
ืืขืืืื
โ
As I expected, Bitcoin reached the ๐ดResistance zone($65,700-$67,520)๐ด.
๐According to Elliott's wave theory, Bitcoin is completing wave 5.
๐กAlso, we can see Regular Divergence(RD-) between two Consecutive Peaks.
๐Looking at the Market Cap USDT Dominance% (USDT.D%) chart, I see that USDT.D% has completed its Zigzag correction(ABC/5-3-5) in the ๐ขSupport zone(4.72%-4.53%)๐ข. We should expect at least a temporary growth of USDT.D%, which means that Bitcoin should have a minimal correction.๐
๐I expect Bitcoin to start falling from the ๐ดResistance zone($65,700-$67,520)๐ด and continue falling to at least the ๐ขSupport zone($65,700-$64,180)๐ข and the 50_SMA(Daily).
โ๏ธโ ๏ธNoteโ ๏ธโ๏ธ: An important point you should always remember is capital management and lack of greed.
Bitcoin Analyze ( BTCUSDT ), 2-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.
๐According to Elliott's wave theory, Bitcoin is completing wave 5.
๐กAlso, we can see Regular Divergence(RD-) between two Consecutive Peaks.
๐Looking at the Market Cap USDT Dominance% (USDT.D%) chart, I see that USDT.D% has completed its Zigzag correction(ABC/5-3-5) in the ๐ขSupport zone(4.72%-4.53%)๐ข. We should expect at least a temporary growth of USDT.D%, which means that Bitcoin should have a minimal correction.๐
๐I expect Bitcoin to start falling from the ๐ดResistance zone($65,700-$67,520)๐ด and continue falling to at least the ๐ขSupport zone($65,700-$64,180)๐ข and the 50_SMA(Daily).
โ๏ธโ ๏ธNoteโ ๏ธโ๏ธ: An important point you should always remember is capital management and lack of greed.
Bitcoin Analyze ( BTCUSDT ), 2-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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ืืขืจื
If BTC touches $66,220, we can expect BTC to go down more.ืืขืจื
The analysis is still valid; in my opinion, every time Bitcoin enters the ๐ดResistance zone($65,700-$67,520)๐ด, a short position can be a good choice. Don't forget the Stop Loss.
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๐Contact & Learning Technical Analysis ๐t.me/Ad_ProTrader365
๐Get a 20% Discount on your trading FEE on BYBIT:๐partner.bybit.com/b/PEJMANZWIN
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