Location: Bitcoin's Correction has started around 64200$ (The Corrective structure is Zig Zag 5-3-5). If you followed my posts, we found End of microwave 4 of the main wave C, but it was wrong because counting waves can change (We saw fake break). if price can break Support (31620$ until 30960$ (Support + Cluster of Fibs)== Heavy Support), I can say that The end of microwave 4 of Main wave C was at 41330$, otherwise, probably microwave 4 will be the complex type (WXY_WXYXZ). Microwave 2 rested on Price, and now we can see microwave 4 is resting on Time.
Patterns: Bitcoin was able to make Descending Triangle, although this pattern broke by a Reverse Head and Shoulder (Pay attention to Point E), but this break was fake (probably, because of BAD news on market). in addition, if we lose this support (Support zone: 35288$ until 34820$ (Support + Cluster of Fibs) == Light Support), the price can make Bullish Shark Pattern near Point F.Point F will be a critical point for us, better, I had to say that market will decide to go UP or DOWN. UP = still microwave 4 is running // DOWN = we are on microwave 5 and we have to try to find the end of this wave.
Also, Moving AveragesMA200 & MA50 Passed from each other Yesterday.
RSI Analyze: if you see 👉 RSI is running on Descending Channel 📉 and we can see a Fake break on RSI too.
BitcoinLong-term Analyze (Monthly Time frame)📆: Please read this post 👉
I tried to show you our Resistance Zones & Suppor Zones that we have in front of Bitcoin.
Resistance zones & Suppor Zones on Bitcoin's way (Respectively):
Resistance zone: 39450$ until 39506$ (Resistance + Cluster of Fibs)/== Light Resistance
Resistance zone: 41340$ until 40800$ (Resistance + Cluster of Fibs) == Medium Resistance
Resistance zone: 42250$ until 4225$ (Monthly Pivot Point + Cluster of Fibs + Fib circle)/ I don't think that Price can break this zone just with one test.== Heavy Resistance
Resistance zone: 44280$ until 44071$ (Bullish Flag Pattern's Target + Cluster of Fibs ) == Medium Resistance
Resistance zone: 46186$ until 45320$ (Resistance + Cluster of Fibs + Yearly Resistance 2 + Reverse Head and Shoulder's Target ) == Heavy Resistance
Support zone: 37596$ until 37267$ (Yearly Support 1+ Cluster of Fibs + Necking line) == Heavy Support
Support zone: 35288$ until 34820$ (Support + Cluster of Fibs) == Light Support
Support zone: 31620$ until 30960$ (Support + Cluster of Fibs) == Heavy Support
Fundamental:
Unfortunately, we don't hear Good news about the market, I want to say some of the Bad 😕news that we received these days:
Sichuan Becomes Latest Chinese Province to Order Bitcoin Miner Shutdown ⚠️😕
UK Bank TSB Set to Ban Crypto Buying Due to E-Wallet Scam Concerns ⚠️😕
Bitcoin Fund Holdings Hit Four-Month Low ⚠️😕
Dollar Currency Index is growing up, look at DXY compare with BTC, Most of the time They are moving against each other👉
Gold Index came back to Descending Channel 📉, It can NOT be a good sign for BTC 👉
My Suggestion: please do NOT buy Coins for Midterm and Long-term investment until the market finds a way.
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 be glad to see your ideas in this post.
Please do not forget the ✅'like'✅ button 🙏😊 & Share it with your friends, Thanks, and Trade safe.