BTCUSDT - Current price: $69,900.58
๐ HIGHER TIME FRAME STRUCTURE:
The corrective structure W-X-Y is globally concluding. Wave W (zigzag) is completed, wave X (triangle a-b-c-d-e) is practically finished, the final wave Y upward is expected.
๐ CURRENT STRUCTURE:
- The triangle a-b-c-d-e in wave X position is concluding
- Wave e of the triangle reached the lower boundary (~$60,000)
- A bullish impulse wave (1) begins from $60,000
- Current position: completion of wave (2) correction at ~$69,900
โ RULE CHECK:
- The triangle is correct: each wave is shorter than the previous one
- Wave (2) does not go beyond the beginning of wave (1) - rule complied
- The structure corresponds to the "triangle breakout" pattern
LIQUIDITY ZONES:
โข Above $76,008 (equal highs of waves (5) and (3)) - stops for short positions
โข Under $60,000 (base of the triangle) - stops for long positions
โข Under $68,000 (beginning of wave (1)) - stops for new longs
Probability of removal: average, possible test of $68,000 before growth
FIBONACCI:
- Wave (2): 50-61.8% correction from wave (1) = $68,000-69,500 โ
- Wave (3) targets: 161.8% = $78,500, 200% = $82,000
- Resistance cluster at $76,000-76,500
MARKET STRUCTURE:
โข Trend: bullish (triangle breakout)
โข Zone: Equilibrium (middle of the range)
โข FVG: gap at $71,000-72,000 (will be filled upon rise)
TARGETS:
1. $76,008 (equal highs) - first target
2. $78,500 (161.8% of wave (1)) - main target of wave (3)
3. $82,000 (200% extension) - extended target
๐ ENTRY CALCULATOR:
โข Entry: $69,500-70,000 (current levels)
โข Stop Loss: $67,500 (under 78.6% correction, R: -3%)
โข TP1: $76,008 (R/R 1:3.2)
โข TP2: $78,500 (R/R 1:4.2)
โข TP3: $82,000 (R/R 1:6.0)
โ INVALIDATION:
Upon breakout at $67,200 (beginning of wave (1)), the triangle layout is incorrect
โ ๏ธ ALTERNATIVE SCENARIOS:
1) Triangle breakout upwards - probability 65%
2) False breakout + return to the triangle - probability 25%
3) Triangle breakout downwards (to $58,000) - probability 10%
๐ก CONCLUSION:
The triangle is practically completed, a bullish impulse wave begins. The current correction (2) provides a good entry point. First target $76,000, main $78,500. Stop under $67,500 considering crypto slippage.
Not a financial recommendation.
Successful trades!
