Bitcoin's Path to ATH: Final Wave or
Just a Pause?
Bitcoin( SBTC USDT) pumped about + 2% after the "The United States has dropped its tariffs on Chinese goods to 30%, down from a brutal 145%, while China is slashing its own duties on US imports to just 10%, temporarily, for the next 90 days." news, but then started to decline again. Do you think Bitcoin can see the new All-Time High(ATH)?
Bitcoin is moving near the Support zone($102,200-$101,680) and Support line.
In terms of Elliott wave theory, Bitcoin appears to have completed microwave 3 of the main wave 5 and is currently completing microwave 4 of the main wave 5.
Given the momentum of the decline a few hours ago, I expect Bitcoin to either touch the previous low or create a new low in the 1-hour timeframe.
I expect Bitcoin to attack the Support zone($102,200-$101,680) once again and possibly touch the Support line and then attack towards the Resistance zone($109,588-$105,865) with the two scenarios I outlined on the chart.
Cumulative Short Liquidation Leverage:
$106,943-$105,913
Cumulative Short Liquidation Leverage:
$105,313-$104,787
Cumulative Long Liquidation Leverage:
$102,198-$101,697
Note: If Bitcoin can move above $104,500
without correction, we can expect more pumping.
Note: If Bitcoin falls below $101,500, we can expect more declines.
Please respect each other's ideas and express them politely if you agree or disagree.
Bitcoin Analyze (BTCUSDT), 1-hour time frame.
Be sure to follow the updated ideas.
Do not forget to put a 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.
#BinanceAlphaPoints $BTC
Just a Pause?
Bitcoin( SBTC USDT) pumped about + 2% after the "The United States has dropped its tariffs on Chinese goods to 30%, down from a brutal 145%, while China is slashing its own duties on US imports to just 10%, temporarily, for the next 90 days." news, but then started to decline again. Do you think Bitcoin can see the new All-Time High(ATH)?
Bitcoin is moving near the Support zone($102,200-$101,680) and Support line.
In terms of Elliott wave theory, Bitcoin appears to have completed microwave 3 of the main wave 5 and is currently completing microwave 4 of the main wave 5.
Given the momentum of the decline a few hours ago, I expect Bitcoin to either touch the previous low or create a new low in the 1-hour timeframe.
I expect Bitcoin to attack the Support zone($102,200-$101,680) once again and possibly touch the Support line and then attack towards the Resistance zone($109,588-$105,865) with the two scenarios I outlined on the chart.
Cumulative Short Liquidation Leverage:
$106,943-$105,913
Cumulative Short Liquidation Leverage:
$105,313-$104,787
Cumulative Long Liquidation Leverage:
$102,198-$101,697
Note: If Bitcoin can move above $104,500
without correction, we can expect more pumping.
Note: If Bitcoin falls below $101,500, we can expect more declines.
Please respect each other's ideas and express them politely if you agree or disagree.
Bitcoin Analyze (BTCUSDT), 1-hour time frame.
Be sure to follow the updated ideas.
Do not forget to put a 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.
#BinanceAlphaPoints $BTC