As I expected in the previous idea, Bitcoin(
BTCUSDT) started rising from the support zone($66,400-$64,900) and reached all of its targets (full target).
Currently, Bitcoin is moving near the potential reversal zone (PRZ) [$68,390-$67,810] and the Cumulative Short Liquidation Leverage ($68,670-$68,180). This recent move can be seen as a pullback to the broken support lines.
From an Elliott Wave theory perspective, it seems that Bitcoin is completing a corrective Expanding Flat(ABC/3-3-5), finishing its wave C.
I expect that, in the coming hours, Bitcoin will once again start declining and drop at least to $66,833.
First Target: $66,833
Second Target: Cumulative Long Liquidation Leverage($66,570-$66,170)
Third Target: Cumulative Long Liquidation Leverage($65,580-$65,190)
Stop Loss(SL): $68,890
Points may shift as the market evolves
Cumulative Short Liquidation Leverage: $70,190-$79,440
CME Gap: $84,560-$79,660
Note: The speech from Powell or any other important economic figure can influence the market trend if they discuss interest rates or significant economic topics.
Note: Any news or escalation of the Middle East conflict can cause a sudden shift in Bitcoin’s trend, so, once again, manage your capital carefully in your trades.
What do you think about Bitcoin—can it rise above $69,000, or will we see another decline again?
💡 Please respect each other's opinions and express agreement or disagreement politely.
📌Bitcoin Analysis (BTCUSDT), 1-hour time frame.
🛑 Always set a Stop Loss(SL) for every position you open.
✅ This is just my idea; I’d love to see your thoughts too!
🔥 If you find it helpful, please BOOST this post and share it with your friends.
BTCUSDT) started rising from the support zone($66,400-$64,900) and reached all of its targets (full target).Currently, Bitcoin is moving near the potential reversal zone (PRZ) [$68,390-$67,810] and the Cumulative Short Liquidation Leverage ($68,670-$68,180). This recent move can be seen as a pullback to the broken support lines.
From an Elliott Wave theory perspective, it seems that Bitcoin is completing a corrective Expanding Flat(ABC/3-3-5), finishing its wave C.
I expect that, in the coming hours, Bitcoin will once again start declining and drop at least to $66,833.
First Target: $66,833
Second Target: Cumulative Long Liquidation Leverage($66,570-$66,170)
Third Target: Cumulative Long Liquidation Leverage($65,580-$65,190)
Stop Loss(SL): $68,890
Points may shift as the market evolves
Cumulative Short Liquidation Leverage: $70,190-$79,440
CME Gap: $84,560-$79,660
Note: The speech from Powell or any other important economic figure can influence the market trend if they discuss interest rates or significant economic topics.
Note: Any news or escalation of the Middle East conflict can cause a sudden shift in Bitcoin’s trend, so, once again, manage your capital carefully in your trades.
What do you think about Bitcoin—can it rise above $69,000, or will we see another decline again?
💡 Please respect each other's opinions and express agreement or disagreement politely.
📌Bitcoin Analysis (BTCUSDT), 1-hour time frame.
🛑 Always set a Stop Loss(SL) for every position you open.
✅ This is just my idea; I’d love to see your thoughts too!
🔥 If you find it helpful, please BOOST this post and share it with your friends.
Trade active
Trade was activated in the Potential Reversal Zone (PRZ) [$68,390-$67,810]Trade closed: target reached
Target Done
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🎁Welcome than a 50% bonus(Low Spread)
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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.
🎁Get a 20% Discount on your trading FEE on BYBIT:
partner.bybit.com/b/PEJMANZWIN
────────────
🎁Welcome than a 50% bonus(Low Spread)
vtm.pro/Y3AV7r
partner.bybit.com/b/PEJMANZWIN
────────────
🎁Welcome than a 50% bonus(Low Spread)
vtm.pro/Y3AV7r
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.