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Bitcoin (Cryptocurrency)

👑Bitcoin Analysis: Trading Amid Price Correction📉🔍Today is Tuesday, and it's a favorable day for trading. The cryptocurrency I'm analyzing today is Bitcoin. In the initial candle of the day, Bitcoin experienced a downward movement of around 6%, reaching a support level of $63,054. We need to observe its behavior in the subsequent candles around this support level. 🌊From a Elliott Wave Theory perspective, we've seen a reversal in the lower wave cycle on the 4-hour chart, indicating a minor downturn. However, in the higher wave cycle, Bitcoin remains predominantly bullish, and this correction appears to be a minor adjustment necessary for subsequent upward movements.It's important to note that these corrections on higher time frame charts can shape long-term trends, potentially providing profitable opportunities on lower time frame charts like the 4-hour. 💪The latest key level where price bounced back is around $68,100, forming a strong Potential Reversal Zone (PRZ). This zone coincides with the Point of Control (POC) indicator of the fixed range volume profile, the 0.38 Fibonacci retracement level of the downward wave, and the resistance line of the Elliott Wave Theory. Additionally, the golden cross of the SMA7, 25, and 99 further strengthens this zone. 📊The volume of red candles confirms the short-term downward trend but currently doesn't show any weakness. We need to monitor how the volume behaves in case of a correction. ✅For traders holding short positions, consider taking profits if the price finds support at $63,054. Otherwise, exercise patience and wait for a potential drop to $60,849. If the price sharply rises, take pleasure in your profits. For risk management, set your stop-loss if the sharp upward movement occurs, as it could happen easily due to the overall bullish trend. 📉If you don't currently have a position, wait for the market to establish a new structure before taking any action. If you're unable to wait for a new structure to form, consider opening a short position when the RSI enters oversold territory. However, be aware that this is a risky move. By considering these factors, traders can identify potential trading opportunities amidst Bitcoin's price correction. 🧠💼It's important to acknowledge the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Always adhere to strict capital management principles and utilize stop-loss orders, ensuring that the initial target offers a risk-to-reward ratio of 2
by itsparham96
Charting the Future: $BTC HTF Analysis (2024-2026)Bitcoin recently hit a new ATH of around $74k and is now showing signs of forming a local top before a potential correction. There is a significant amount of liquidation expected below $50,700. The next $Bitcoin halving is predicted to occur on April 21, 2024. The first support level is at 60k, followed by support around 40k. A correction to 50k is expected before potentially reaching 100k. Buying below 60k could be a good opportunity. Sell after the second quarter of 2025. In my opinion, do your own research before making any decisions. Good Luck! CRYPTOCAP:BTC
COINBASE:BTCUSDLong
by femtoxbt
1
WILL #SOLANA HIT $500 IN THIS BULL MARKET? WILL #SOLANA HIT $500 IN THIS BULL MARKET? 1⃣ SOLANA 800% Up from Our Initial Entry Setup. 2⃣ 2021 Bull Market Solana did 250x 3⃣ Current 2024 Bull Market #SOL has given 17x so far 4⃣ IMO CRYPTOCAP:SOL has $500 Potential in the Current bull run 5⃣ Support = $80-$90, Major Support = $50 6⃣ If hold $115 Support Level then Next move toward $250 7⃣ Major Resistance = 210 8⃣ SOLANA flipped #Ethereum in 24H DEX Volume HAPPY TRADING #CRYPTOPATEL FAM
Long
by CryptoPatel
PEPEcoin now 1000% up from our Entry Level.. cheers#PEPE 1000% Profit Update: 1⃣ Finally, I booked My Profit from CRYPTOCAP:PEPE Coin. 2⃣ My Entry was $0.000000710 on Oct 2023 3⃣ Today I Sold all PEPE at $0.0000079 price 4⃣ My Investment was $9000 5⃣ My Total Realized Profit is $92,380 ( Almost 10x ) 6⃣ My PEPE Holding Period is only 5 Months 7⃣ Still 700% up from My Initial PEPE Entry Setup 8⃣ My Honest View = Now is Not Good time to Fresh entry into PepeCoin Hope you also enjoyed my Long-term GEM analysis. Thank you for your Trust and love with the CryptoPatel Family. NFA
Long
by CryptoPatel