Bitcoin can Go Up Temporary!!!==>>Short term

4 ส.ค.Bitcoin and other tokens faced a sharp drop in price following unfavorable US economic reports and the possibility of tension between Iran and Israel.

Bitcoin fell below $60,000 for the first time in recent weeks. The publication of the US employment report and the increase in the unemployment rate to the highest level in the last 3 years have been the main factors of this fall in previous days. The withdrawal of capital from Bitcoin ETFs and failure to maintain key support zones also fueled this downward trend, and strong selling pressure in the market also provided the conditions for further price reduction.

First of all, I must say that this analysis is short-term, and Bitcoin's trend can continue to be bearish if it does not stabilize above the 21_SMA(Weekly).

Bitcoin is currently moving in a Heavy Support zone($61,760-$58,400).

According to the theory of Elliott waves, it seems that a 5th downward wave has been completed and we should wait for corrective waves.

Also, we can see Regular Divergence(RD+) between Consecutive Valleys.

I expect Bitcoin to rise to at least $61,900.

Note: Because the tension in the Middle East is increasing, especially after 20:30 UTC, try to keep an eye on long positions and make sure not to forget capital management and Stop Loss(SL).

Bitcoin Analyze (BTCUSDT), 15-minute time frame⏰.

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.

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4 ส.ค.

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