Bitcoin Hits New ATH – Is This the Final Pump Before a Crash?

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Bitcoin(BTCUSDT) reacted well to the Potential Reversal Zone(PRZ)[$127,830-$124,000] that I told you about in the previous idea and started to decline, but Bitcoin managed to create a new All-Time High(ATH=$124,474) in this rally.

Do you think Bitcoin can create a new All-Time High(ATH) again in the coming hours or should we wait for a main correction?

In terms of Elliott Wave theory, Bitcoin appears to have completed the main wave 5 in the Potential Reversal Zone(PRZ)[$127,830-$124,000], and we should expect corrective waves.

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

Looking at the USDT.D%(USDT.D) chart, it also seems that with the breaking of the upper line of the descending channel, we can expect an increase in USDT.D%, which could cause a decrease in the price of Bitcoin.

I expect Bitcoin to at least move towards filling the CME Gap($118,600-$117,425) AFTER breaking the Support lines.

Cumulative Short Liquidation Leverage: $126,000-$124,367

Cumulative Long Liquidation Leverage: $118,000-$117,400

Note: Stop Loss(SL): $126,123

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.

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Giao dịch đang hoạt động

Trade was activated after BTC was able to break the support lines.

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Đóng lệnh: đạt mục tiêu

First Target Done