Hi everyoneð(Reading time less than 2 minutesâ°).
First, I must say that Bitcoin reacts well to ðīPitchfork linesðī, so one of our criteria for support and resistance lines for Bitcoin can be Pitchfork lines in the daily time frameâ°.
In theory, Bitcoin Elliott Waves completed its five impulse waves at a ðīheavy resistance zone($ 31,750-$ 28,140)ðī.
ðTeaching Tipð: Mostly, heavy support and resistance areas are not broken with a single attack.
Bitcoin has been moving in a descending channel for about 2 months. The structure of the waves in this descending channel is Double Three Correction(WXY).
Bitcoin is currently completing microwave B of the main wave Y. I expect this wave to finish above the descending channel and in the ðĄTime Reversal Zone(TRZ)ðĄ.
The end of the Double Three Correction structure can end in the ðĒsupport zone($ 25,280-$ 24,410)ðĒ.
Bitcoin Analyze ( BTCUSDT ), Daily 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 be glad to see your ideas in this post.
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