The Elliot wave pattern continues? Yes or No? Lets watch

12 thg 5, 2023

in my previous analysis, i have mentioned that BTC is testing important resistance zone. and Yes, BTC was rejected from 30600 levels and now trading around 26500. It was my stop loss point in the analysis.

But Now, BTC is looking bullish as pattern in 1 Day chart indicating towards the Elliot Wave Pattern. But also BTC is testing 100 MA support levels in a Day candle. Previously (Highlighted in Orange circle) it was tested at 20400 levels and you can see a bullish pump in BTC. are we going to face the same? well, i have feeling that Yes. but there are few conditions;

1) If we see the same pump as per previous time from the 100 MA support line, We are good and BTC can test the levels of 33K to 35K. Its a very strong resistance in terms of volume, as per my VRVP indicator.
2) If we see more downtrend, BTC going to test levels of 23K to 25K. from there we can see a pump in BTC to levels of 30K to 33K.

Now, i was following my previous analysis, i have taken Short Position from 30200 levels and closed at 27500. Good Profit. BTCUSDT 😃😝. again, i have taken short position from 28700 and closed at 26200.🤩

Please dont forget to add stoploss in any of your trad. Have a safe trading!!!