According to the analysis presented in the weekly time frame, Bitcoin registered a new ATH and is currently facing selling pressure in the lower time frame. Three movement scenarios can be considered for the next movements of Bitcoin.
🔰The first scenario: if it is not able to break this ceiling in the weekly or daily time, it can continue its growth with a pullback to Fibo 0.78, the range of $50,000 and confirmation of the return to Fibo 1.618 and the next supply area.
🔰The second scenario: with the failure of the current area, it will grow up to the Fibo 1.618 range of $75,000 and continue its growth with a pullback to the previous major ceiling until the supply area.
🔰Third scenario: if it enters the correction phase and if it breaks the 0.78 fibo, this correction will continue and probably touch the 1.272 fibo of the previous wave. »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Sincerely.❤️
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Currently, with the breaking of the range according to the predicted scenarios, the second scenario is being realized, which will have the ability to grow up to the Fibo range of 1.618. If the post was useful for you, support it by liking and commenting.
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It is moving according to the predicted movement path.
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With Mr. Powell's speech last night (inflation reduction and the possibility of interest rate reduction), the market has reacted as expected due to anticipating the negatives. The dollar index showed a negative reaction in the red box area, and Bitcoin has broken the red box now, but now it has stabilized, it can touch the next targets.
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In time 4h, according to the complex movement structure of the correction and its completion in the region of 60764, this recent motivational movement towards resistance and its correction in the form of a three-wave should be considered as completed, and this time, the ability to break the resistance range should be considered. have a target Therefore, it will most likely not have a new floor. If the behavior and structure of the post changes, it will be updated.
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According to the presented analysis, no new bottom was made and currently the supply area is breaking upwards.
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In continuation of the previously drawn movement path, it is located around the specified target. Currently, according to the formed corner pattern, it can have two movement paths, the first possible path or scenario is correction up to 62500 areas and then the green box. The second scenario can break this pattern and continue this climb up to the 1.618 area.
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According to the presented analysis of the first scenario, this failure occurred from the bottom, which is in wave C of the collapse.
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According to the analysis, after the last ascending log E and the failure of the dynamic trigger support, the correction is being carried out, and this correction will have the ability to reach the green box after touching the 62500 range according to the base of the triangle.
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According to the possible scenario that is being corrected, this reversal could be a pullback to a broken structure...
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According to the direction of movement and the inability to break the supply zone is being corrected, and due to the weakness of the trend and the reduction of the validity of the support level, we should wait for the failure of the current zone for the next correction zone. If the behavior and structure of the post changes, it will be updated.
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According to the movement path, it is reaching the support zone.
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It is moving in a descending channel. According to the previous analysis, it is currently in the midline of this channel, which will still have the ability to reach the bottom of the channel and the range of the green support box.
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Scalp... Full Tp...
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According to the previous analysis, Bitcoin corrected up to the green box area now Bitcoin can have 3 paths. The first path: considering that it is in the supply zone, after the pullback to the broken structure and the support in the green box, move towards the next supply zone. The second path: Break the area and then move towards the next target, which should have an upward wave in the form of wave 3 or C. Pessimistic scenario: Retest the previous area.
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According to the presented analysis, the first scenario was realized, of course, with a pullback to the swing, and now, after the failure of the first supply zone, the target of the second supply zone has been touched.
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According to the direction of movement after the touch of the supply area, it was corrected.
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Currently located in an important supply area. There are two scenarios, the first scenario: due to the upward momentum, the supply can continue to grow by breaking the zone first up to Fibo 1.618 and then to the next zone. Second scenario: Currently, if this upward wave 5 is weak and does not have the ability to move as much as wave 3, it can enter a downward cycle, which can be one or more zigzag steps.
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According to the movement path, after the supply range has not been broken, it has faced selling pressure and has already touched the first target range. If the post was useful for you, support it with like and comment.
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Currently, the second target range has also been touched, which can retest the green box again as long as it is below the 62500 range. If the post was useful for you, support it by liking and commenting.
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After an unsuccessful attempt to stabilize above 62500 according to the analysis presented earlier, it retested the green box. If the post was useful for you, support it by liking and commenting.
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According to the downward momentum, it can break the current green box area for the next trading node and touch it after an upward return in case of selling pressure.
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According to the latest analysis provided, after the failure of the support zone, it has already touched the bottom of the downward channel, so the resistance zone can become a price barrier, and as a result, as long as it is below the red box zone, it can touch the green box trading node. slow
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Scalp position
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Motion scenario: According to the moving momentum, an upward cycle has started. Therefore, I expect a correction in the form of a three-wave downwards to complete in the specified area and succeed in breaking the supply area for the next target. If the behavior and structure of the post changes, it will be updated.
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Scalp my position.
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Scalp my position.
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According to the predicted movement scenario, after going through a full cycle of movement with a zigzag correction in the form of three waves after touching the trading node range of the second green box, demand was encountered. At the moment, this short-term corrective wave is a short-term three-wave format, which I expect after its completion will enter the short-term rising wave C or 3, which should touch the supply range target according to the movement path. So far, all the details have been examined in detail in different time frames of motion scenarios. Therefore, based on the latest analysis and update, it will soon enter the next cycle of upward movement. If the post was useful for you, support it with like and comment.
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According to the weekly analysis, the previous correction was done until around the node, which was completely touched after the inability to break the neckline, the node or the green box area. But now considering that 0.78 fibo of the previous wave was broken in the previous rally, this correction can be a pullback to it. But due to three waves, it can advance up to 1.618. Therefore, the reform structure should be completed for the time being. At the same time, the daily candle closes below the zone, correction to the next box and 1.272 can advance.
The 4H time frame is moving in a descending channel. It has faced demand in the area of the channel floor. Therefore, according to the bullish candlestick in the middle of the channel, it can grow up to the ceiling of the channel and the supply range. If it faces selling pressure, it will correct until the origin of the movement. Otherwise, with the failure of the channel and pullback, it can grow up to the previous ceiling.
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