Bitcoin / TetherUSāļĨāļāļĨāļ
Bitcoin Road Mapðšïļ!!!(4-hour time frameâ°)
āļāļĩāđāļāļąāļāđāļāļ:
Hi everyoneð(Reading time less than 3 minutesâ°).
Bitcoin has been moving in a Rectangle Pattern for more than 21 days.
If we look at the waves inside the Rectangle Pattern in terms of Elliott waves, we will find that Bitcoin has succeeded in completing the Double Three Correction(WXY), and in the last 7 days, it is forming an Expanding Ending Diagonal.
ðĄOne of the Signs to confirm the end of wave 5 of Expanding Ending Diagonal can be the formation of the Hanging Man Candlestick Pattern.
ðĄAnother Sign to confirm the end of wave 5 inside the Expanding Ending Diagonal can be Fibonacci levels so that wave 5 is often 138.2%-161.82% in size relative to the size of wave 3.
ðĄAnother sign is the fifth touch of Bitcoin with the resistance line, which shows the importance of this line for Bitcoin.
ðAs a result, I expect Bitcoin to decline to at least the middle of the rectangle pattern or ðĒsupport zone($30,480-$30,360)ðĒ.
âïļNoteâïļ: If Bitcoin goes above $31,880, expect Bitcoin will touch at least $33,000.
ðFor a better understanding and educational aspect, I tried to show you the structure of the waves inside the rectangle pattern on the chart.
ðâPositive Newsâð:
Ripple won in court, creating a wave of hope and happiness in the cryptocurrency community.
Europeâs First Bitcoin ETF Set To Begin Trading After 12-Month Wait.
Argentina Embraces BTC With Its First Bitcoin Futures Contract .
Galaxy Digital CEO Mike Novogratz opines that if the Securities and Exchange Commission (SEC) gives the green light for a spot BTC exchange-traded fund (ETF), it will turn around the fortunes of the largest virtual currency.
ðâNegative Newsâð:
Bitcoinâs price is following in XRPâs footsteps by rallying close to $32,000, but the price could pull back in the face of this weekâs $720 million options expiry.
US Government Moves $305,000,000 Worth of Bitcoin (BTC) Seized From Silk Road
US industry watchdogs oppose the draft bill on the crypto market structure.
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Bitcoin Analyze ( BTCUSDT), 4-hour time frameâ°.
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.
Please do not forget the â ' like'â button ðð & Share it with your friends; thanks, and Trade safe.
Bitcoin has been moving in a Rectangle Pattern for more than 21 days.
If we look at the waves inside the Rectangle Pattern in terms of Elliott waves, we will find that Bitcoin has succeeded in completing the Double Three Correction(WXY), and in the last 7 days, it is forming an Expanding Ending Diagonal.
ðĄOne of the Signs to confirm the end of wave 5 of Expanding Ending Diagonal can be the formation of the Hanging Man Candlestick Pattern.
ðĄAnother Sign to confirm the end of wave 5 inside the Expanding Ending Diagonal can be Fibonacci levels so that wave 5 is often 138.2%-161.82% in size relative to the size of wave 3.
ðĄAnother sign is the fifth touch of Bitcoin with the resistance line, which shows the importance of this line for Bitcoin.
ðAs a result, I expect Bitcoin to decline to at least the middle of the rectangle pattern or ðĒsupport zone($30,480-$30,360)ðĒ.
âïļNoteâïļ: If Bitcoin goes above $31,880, expect Bitcoin will touch at least $33,000.
ðFor a better understanding and educational aspect, I tried to show you the structure of the waves inside the rectangle pattern on the chart.
ðâPositive Newsâð:
Ripple won in court, creating a wave of hope and happiness in the cryptocurrency community.
Europeâs First Bitcoin ETF Set To Begin Trading After 12-Month Wait.
Argentina Embraces BTC With Its First Bitcoin Futures Contract .
Galaxy Digital CEO Mike Novogratz opines that if the Securities and Exchange Commission (SEC) gives the green light for a spot BTC exchange-traded fund (ETF), it will turn around the fortunes of the largest virtual currency.
ðâNegative Newsâð:
Bitcoinâs price is following in XRPâs footsteps by rallying close to $32,000, but the price could pull back in the face of this weekâs $720 million options expiry.
US Government Moves $305,000,000 Worth of Bitcoin (BTC) Seized From Silk Road
US industry watchdogs oppose the draft bill on the crypto market structure.
----------------------------------------------------------------------------------------
Bitcoin Analyze ( BTCUSDT), 4-hour time frameâ°.
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.
Please do not forget the â ' like'â button ðð & Share it with your friends; thanks, and Trade safe.
āļāļąāļāļāļķāļ
ðTechnical analysis tools used:ðElliott wave theory
Classic patterns (Rectangle Pattern)
Candlestick patterns (Hanging Man Pattern)
Volume trading
Trend lines
Support and Resistance Zones
Fibonacci levels
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āļāļąāļāļāļķāļ
The trigger of the Hanging Man pattern is activatedāļāļąāļāļāļķāļ
Bitcoin managed to break the ðĒsupport zone($30,480-$30,360)ðĒ and is pulling back into this zone.āļāļąāļāļāļķāļ
The trading volume is low on Saturdays and Sundays, so we should not expect anything strange on Saturdays and Sundays. But starting on Monday, I expect Bitcoin to complete its pullback to the lower line of the Expanding Diagonal and the ðĒsupport zone($30,480-$30,360)ðĒ and attack the bottom line of the rectangle again.āļāļīāļāļāļēāļĢāđāļāļĢāļ: āļāļķāļāđāļāđāļēāļŦāļĄāļēāļĒāļāļēāļĢāļāļģāļāļģāđāļĢ
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