ðTrading ideas for the final sprint of #BTCð§
âĄïļFrom a data perspectiveð
Positions on major mainstream exchanges began to increase rapidly, which meant that a large number of retail investors began to enter the market. It seems that the popularity of BTC in the world has been mentioned again, but this is often not a good thing, because this is exactly what the main players want to see, and they will reduce their holdings in batches until huge dumping occurs. When the liquidation data on a certain day begins to show an astonishing amount of more than a billion dollars, it can basically be declared that this wave of rise is over.
âĄïļFrom a technical point of viewð
We have been rising all the way up based on the smiling face bullish structure below, so the ideal target of this structure is the mid-term TP zone. If we look at it according to the Elliott pulse wave, the increase in waves 4-5 of the previous pulse wave was 59.01% , and the current increase in waves 4-5 in this period is also about 59% when it reaches fib0.5. History does not always repeat, but it often rhymes. ðū
â ïļIn addition, the vicinity of fib0.5 is generally regarded as a key support and resistance transition point. Combined with the previous K-line, there are also many high and low points that overlap with the K-line. We will also face the round-number hurdle of $40,000 that most investors are looking forward to. Therefore, when we reach $40,000-$42,289, we will definitely encounter serious resistance. I would not be surprised if there is another negative K-line with a large cycle closing at that time. Whether it is analyzed according to the wave theory, graphic structure, or Fibonacci sequence, this is completely logical. ð§ ðŊâïļ
âĄïļSo we are not in a hurry to go short now, just wait for the negative K-line to close in the big cycle! If you are bullish, you need to remain vigilant at all times, do a good job in risk management, and try to be risk-free or low-risk to achieve the ideal target zone. âïļðŊâïļ
ðĪIf you like my analysis, please like ðand share itðŽ
ð Follow me so you don't miss out on any signals and analyze ðŊ
Positions on major mainstream exchanges began to increase rapidly, which meant that a large number of retail investors began to enter the market. It seems that the popularity of BTC in the world has been mentioned again, but this is often not a good thing, because this is exactly what the main players want to see, and they will reduce their holdings in batches until huge dumping occurs. When the liquidation data on a certain day begins to show an astonishing amount of more than a billion dollars, it can basically be declared that this wave of rise is over.
âĄïļFrom a technical point of viewð
We have been rising all the way up based on the smiling face bullish structure below, so the ideal target of this structure is the mid-term TP zone. If we look at it according to the Elliott pulse wave, the increase in waves 4-5 of the previous pulse wave was 59.01% , and the current increase in waves 4-5 in this period is also about 59% when it reaches fib0.5. History does not always repeat, but it often rhymes. ðū
â ïļIn addition, the vicinity of fib0.5 is generally regarded as a key support and resistance transition point. Combined with the previous K-line, there are also many high and low points that overlap with the K-line. We will also face the round-number hurdle of $40,000 that most investors are looking forward to. Therefore, when we reach $40,000-$42,289, we will definitely encounter serious resistance. I would not be surprised if there is another negative K-line with a large cycle closing at that time. Whether it is analyzed according to the wave theory, graphic structure, or Fibonacci sequence, this is completely logical. ð§ ðŊâïļ
âĄïļSo we are not in a hurry to go short now, just wait for the negative K-line to close in the big cycle! If you are bullish, you need to remain vigilant at all times, do a good job in risk management, and try to be risk-free or low-risk to achieve the ideal target zone. âïļðŊâïļ
ðĪIf you like my analysis, please like ðand share itðŽ
ð Follow me so you don't miss out on any signals and analyze ðŊ
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