Bitcoin Hits New ATH – Is It Time to Short?

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Bitcoin(BTCUSDT) managed to form a new All-Time High(ATH) in the previous one-hour candles.

Do you think Bitcoin can create a new ATH in the coming hours?

Bitcoin is currently trying to break the Heavy Resistance zone($110,720-$105,820). It has also penetrated the Potential Reversal Zone(PRZ)[$114,240-$112,380] and Cumulative Short Liquidation Leverage($114,910-$113,850).

In terms of Elliott wave theory, it seems that the 5 impulsive waves that Bitcoin started in the last 3 days can be completed above the ascending channel and PRZ.

Also, we can see the Regular Divergence(RD-) between Consecutive Peaks.

I expect Bitcoin to drop to at least Cumulative Long Liquidation Leverage($111,563-$110,947). At least the price zone Bitcoin is in at the time of publishing this analysis is better for short positions, even if the Stop Loss(SL) is touched.

Note: Stop Loss(SL)= $115,023

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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).

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Giao dịch đang hoạt động

New update regarding CME Gap and new Cumulative Short Liquidation Leverage/Cumulative Long Liquidation Leverage

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Ghi chú

🔵CME Gap: $115,635 _ $114,060

🟢Cumulative Long Liquidation Leverage: $112,572_ $110,915

🟢Cumulative Long Liquidation Leverage: $115,223 _ $114,359

🔴Cumulative Short Liquidation Leverage: $120,000 _ $118,979

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Ghi chú

Still a valid analysis

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Đóng lệnh: dừng lỗ

Stop loss was touched

New Potential Reversal Zone(PRZ)[$127,700-$124,000]

Cumulative Short Liquidation Leverage: $124,160-$123,352