Bitcoin / TetherUSāļĨāļāļĨāļ
ðšïļBitcoin Roadmapðšïļâ°(4-hour time frame)â°
āļāļĩāđāļāļąāļāđāļāļ:
ðToday I want to show you all the Resistance/Support lines and areas that we should consider for Bitcoin analysis and trading.
ðĄBitcoin with the announcement of the spot Bitcoin ETF application file by the Swiss company Pando is 3 weeks after this company's request by the SEC, and the listing of ARK 21Shares spot ETF in DTCC broker started to rise from the ðĒSupport zone($40,900_$40,200)ðĒ to the ðīResistance zone($43,500_$42,800)ðī.
ðĄBitcoin is currently in a sensitive area, so that it seems to have succeeded in breaking the ðīResistance zone($43,500_$42,800)ðī. On the other hand, there are Resistance lines and ðĄPrice Reversal Zones (PRZs)ðĄabove the current price of Bitcoin.
ð§So now that Bitcoin is in a sensitive area, we should use other technical analysis tools such as Elliott Wave Theory.
ðAccording to the theory of Elliott waves, Bitcoin seems to have succeeded in completing the correction structure of Double Three Correction(WXY). In such a way that the main wave W and Y have a Zigzag(ABC/5-3-5) correction structure, so it can be said that the correction structure is Double Zigzag Correction(WXY), which is a special type of Double Three Correction.
ðĄAnother thing to keep in mind is that I expect the DXY index to go up and have a negative effect on Bitcoin due to the correlation(-0.60) between Bitcoin and the DXY index. On the other hand, it is very likely that in the coming week, the Gold chart will also have a downward trend (Gold has a Correlation of 0.51 with Bitcoin at the moment), so Gold can also have a negative effect on Bitcoin.
ðĄAlso, we can see Strong Regular Divergence(RD-) between two Consecutive Peaks.
ðAs a result, I expect Bitcoin to Fall to at least the Support line(1) in the coming days
ðĶSince Volume Trading is usually low on Saturdays and Sundays, perhaps the decline of Bitcoin will be a little delayed.
ðRegarding the possibility that the spot Bitcoin ETF will be approved around January 10, I can say that I think the market is currently full of news about this issue and we saw its effect on the chart weeks ago, so I think Bitcoin can still be corrected until it really is. Let confirmation spot Bitcoin ETF come so we can see another exciting movement in the crypto market.
âïļâ ïļNoteâ ïļâïļ: If BTC can touch $44,800, Bullish Scenario will be active == Next ðŊTargetðŊ ==ðĄPrice Reversal Zones (PRZ(1))ðĄ.
âïļâ ïļNoteâ ïļâïļ: An important point you should always remember is capital management and lack of greed.
Bitcoin Analyze ( BTCUSDT ), 4-hour time frame â°.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the â ' like'â button ðð & Share it with your friends; thanks, and Trade safe.
ðĄBitcoin with the announcement of the spot Bitcoin ETF application file by the Swiss company Pando is 3 weeks after this company's request by the SEC, and the listing of ARK 21Shares spot ETF in DTCC broker started to rise from the ðĒSupport zone($40,900_$40,200)ðĒ to the ðīResistance zone($43,500_$42,800)ðī.
ðĄBitcoin is currently in a sensitive area, so that it seems to have succeeded in breaking the ðīResistance zone($43,500_$42,800)ðī. On the other hand, there are Resistance lines and ðĄPrice Reversal Zones (PRZs)ðĄabove the current price of Bitcoin.
ð§So now that Bitcoin is in a sensitive area, we should use other technical analysis tools such as Elliott Wave Theory.
ðAccording to the theory of Elliott waves, Bitcoin seems to have succeeded in completing the correction structure of Double Three Correction(WXY). In such a way that the main wave W and Y have a Zigzag(ABC/5-3-5) correction structure, so it can be said that the correction structure is Double Zigzag Correction(WXY), which is a special type of Double Three Correction.
ðĄAnother thing to keep in mind is that I expect the DXY index to go up and have a negative effect on Bitcoin due to the correlation(-0.60) between Bitcoin and the DXY index. On the other hand, it is very likely that in the coming week, the Gold chart will also have a downward trend (Gold has a Correlation of 0.51 with Bitcoin at the moment), so Gold can also have a negative effect on Bitcoin.
ðĄAlso, we can see Strong Regular Divergence(RD-) between two Consecutive Peaks.
ðAs a result, I expect Bitcoin to Fall to at least the Support line(1) in the coming days
ðĶSince Volume Trading is usually low on Saturdays and Sundays, perhaps the decline of Bitcoin will be a little delayed.
ðRegarding the possibility that the spot Bitcoin ETF will be approved around January 10, I can say that I think the market is currently full of news about this issue and we saw its effect on the chart weeks ago, so I think Bitcoin can still be corrected until it really is. Let confirmation spot Bitcoin ETF come so we can see another exciting movement in the crypto market.
âïļâ ïļNoteâ ïļâïļ: If BTC can touch $44,800, Bullish Scenario will be active == Next ðŊTargetðŊ ==ðĄPrice Reversal Zones (PRZ(1))ðĄ.
âïļâ ïļNoteâ ïļâïļ: An important point you should always remember is capital management and lack of greed.
Bitcoin Analyze ( BTCUSDT ), 4-hour time frame â°.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the â ' like'â button ðð & Share it with your friends; thanks, and Trade safe.
āļāļēāļĢāļāļ·āđāļāļāļēāļĒāļĒāļąāļāļāļāļāļģāđāļāļīāļāļāļĒāļđāđ
āļāļąāļāļāļķāļ
If Bitcoin touches $43,120, we can expect a further fall.āļāļąāļāļāļķāļ
Bitcoin has been moving between support and resistance zones for more than 2 days.ðĒSupport zone($43,500_$43,220)ðĒ
ðīResistance zone($44,280_$44,120)ðī
āļāļąāļāļāļķāļ
Great movement, As I expectedāļāļīāļāļāļēāļĢāđāļāļĢāļ: āļāļķāļāđāļāđāļēāļŦāļĄāļēāļĒāļāļēāļĢāļāļģāļāļģāđāļĢ
Congratulations to those who were patient and finally, Bitcoin moved according to the analysis, although I said in the text of the post that we will have a delay in the fall of Bitcoin.āļāļąāļāļāļķāļ
If Bitcoin touches $42,450, we can conclude that the ðīResistance zone($43,500_$42,800)ðī has not been broken, and Bitcoin has created a bull trap.āļāļąāļāļāļķāļ
It seems that as I said in the previous update, we saw a bull trap.āļāļąāļāļāļķāļ
ðĄPrice Reversal Zones (PRZ(2))ðĄ worked very well.
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