Bitcoin(
BTCUSDT), just as I expected in the previous idea, started to decline and reached its full target.
Over the past 20 days, Bitcoin has been moving in a ranging pattern that seems to be forming into a triangle shape.
From an Elliott Wave perspective, this corrective structure also appears to be a triangle, with its wave E potentially completing around the Resistance zone($114,300-$113,000) and the Cumulative Short Liquidation Leverage($114,424-$112,000).
I expect that in the coming hours, Bitcoin can rise at least up to about $112,800. If the upward momentum is strong enough, we might even see it reach the upper lines of the triangle.
Cumulative Long Liquidation Leverage: $106,231-$104,648
Please respect each other's ideas and express them politely if you agree or disagree.
Bitcoin Analysis (BTCUSDT), 2-hour time frame.
Be sure to follow the updated ideas.
Do not forget to put a Stop loss for your positions (For every position you want to open).
Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
BTCUSDT), just as I expected in the previous idea, started to decline and reached its full target.Over the past 20 days, Bitcoin has been moving in a ranging pattern that seems to be forming into a triangle shape.
From an Elliott Wave perspective, this corrective structure also appears to be a triangle, with its wave E potentially completing around the Resistance zone($114,300-$113,000) and the Cumulative Short Liquidation Leverage($114,424-$112,000).
I expect that in the coming hours, Bitcoin can rise at least up to about $112,800. If the upward momentum is strong enough, we might even see it reach the upper lines of the triangle.
Cumulative Long Liquidation Leverage: $106,231-$104,648
Please respect each other's ideas and express them politely if you agree or disagree.
Bitcoin Analysis (BTCUSDT), 2-hour time frame.
Be sure to follow the updated ideas.
Do not forget to put a Stop loss for your positions (For every position you want to open).
Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Trade active
Trade was activatedTrade closed: stop reached
Stop Loss was touched for this analysis
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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.