Bitcoin Roadmap!!!
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Bitcoin started to rise again after Failing(Fake Break) to break the Support zone($58,000-$56,600).
From the point of view of Classical Technical Analysis, it seems that Bitcoin has formed a Falling Wedge Reversal Pattern, and if the upper line of this pattern breaks, we can expect a further increase in Bitcoin.
From the point of view of Elliott wave theory, Bitcoin's correction waves seem to be continuing. The last corrective wave was the Zigzag Correction(ABC/5-3-5), which was the end of wave C, $55,600.
Also, we can see Regular Divergence(RD+) between Consecutive Valleys.
A head and shoulders pattern could form, causing Bitcoin to decline again to nearly $50,000==Two scenarios are possible👇
I expect Bitcoin to move according to the movements I have outlined in the chart.
Note: If Bitcoin loses the Support zone($58,000-$56,600), we should expect Bitcoin to fall to $51,000(at least).
Bitcoin Analyze (BTCUSDT), 4-hour time frame⏰.
Do not forget to put 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.
From the point of view of Classical Technical Analysis, it seems that Bitcoin has formed a Falling Wedge Reversal Pattern, and if the upper line of this pattern breaks, we can expect a further increase in Bitcoin.
From the point of view of Elliott wave theory, Bitcoin's correction waves seem to be continuing. The last corrective wave was the Zigzag Correction(ABC/5-3-5), which was the end of wave C, $55,600.
Also, we can see Regular Divergence(RD+) between Consecutive Valleys.
A head and shoulders pattern could form, causing Bitcoin to decline again to nearly $50,000==Two scenarios are possible👇
I expect Bitcoin to move according to the movements I have outlined in the chart.
Note: If Bitcoin loses the Support zone($58,000-$56,600), we should expect Bitcoin to fall to $51,000(at least).
Bitcoin Analyze (BTCUSDT), 4-hour time frame⏰.
Do not forget to put 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.
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As I mentioned, " if the upper line of this pattern breaks, we can expect a further increase in Bitcoin.
&If Bitcoin loses the Support zone($58,000-$56,600), we should expect Bitcoin to fall to $51,000(at least).
You can search for a Short position.
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