๐กBitcoin managed to break the ๐ดResistance zone($65,700-$64,180)๐ด, Resistance line and 50_SMA(Daily) yesterday.
๐กBitcoin seems to be completing a pullback right now.
๐Regarding Elliott wave theory, Bitcoin seems to have completed the main wave 3 above the resistance zone and is currently completing wave 4.
๐In terms of Classic Technical Analysis, Bitcoin managed to break the resistance zone, resistance line, and 50_SMA(Daily) with the help of the Inverse Head and Shoulders Pattern. Bitcoin seems to have increased at least to the ๐ฏTarget๐ฏ of this pattern.
๐กLet's take a look at the Market Cap USDT Dominance% (USDT.D%) chart.
๐กUSDT.D% seems to start falling after reaching the ๐ดResistance zone(4.92%-4.87%)๐ด, which is in line with Bitcoin's analysis. โ ๏ธThe scenario will change if USDT.D% can break the resistance zoneโ ๏ธ.๐
๐I expect Bitcoin to rise to the next ๐ดResistance zone($65,700-$67,520)๐ด after the completion of wave 4 (pullback).
โ๏ธโ ๏ธNoteโ ๏ธโ๏ธ: If Bitcoin falls below the ๐ดResistance zone($65,700-$64,180)๐ด, the scenario will change.
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.
๐กBitcoin seems to be completing a pullback right now.
๐Regarding Elliott wave theory, Bitcoin seems to have completed the main wave 3 above the resistance zone and is currently completing wave 4.
๐In terms of Classic Technical Analysis, Bitcoin managed to break the resistance zone, resistance line, and 50_SMA(Daily) with the help of the Inverse Head and Shoulders Pattern. Bitcoin seems to have increased at least to the ๐ฏTarget๐ฏ of this pattern.
๐กLet's take a look at the Market Cap USDT Dominance% (USDT.D%) chart.
๐กUSDT.D% seems to start falling after reaching the ๐ดResistance zone(4.92%-4.87%)๐ด, which is in line with Bitcoin's analysis. โ ๏ธThe scenario will change if USDT.D% can break the resistance zoneโ ๏ธ.๐
๐I expect Bitcoin to rise to the next ๐ดResistance zone($65,700-$67,520)๐ด after the completion of wave 4 (pullback).
โ๏ธโ ๏ธNoteโ ๏ธโ๏ธ: If Bitcoin falls below the ๐ดResistance zone($65,700-$64,180)๐ด, the scenario will change.
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.
Trade active
Trade closed: target reached
First TargetTrade closed: target reached
I closed my position.(Second Target)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
๐Get a 20% Discount on your trading FEE on BYBIT:๐partner.bybit.com/b/PEJMANZWIN
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.