Bitcoin Analyze ( BTCUSDT ) Timeframe 4h ⏰ (sorry for the busy chart, but my chart needed these lines).
Live: BTC was able to increase📈 until 41330$, and then it started to decrease📉 until our Necking line == We saw Pullback or Fake Break ❗️❓
Location: Bitcoin’s Correction has started around 64200$ (The Corrective structure is Zig Zag 5-3-5). If you followed my posts, we found End of microwave 4 of main wave C (40840$ on Descending Triangle). after that we had to find the end of microwave 5 of main wave C (End of our correction). If the price goes UP over 42400$, I can say that the end of microwave 5 is 33179$ (Point D on our chart), also we are on 5 new impulsive waves. Otherwise, microwave 5 will be the complex type (WXY_WXYXZ).
Patterns: Bitcoin was able to make Descending Triangle, but this pattern failed by a Reverse Head and Shoulder (Pay attention to Point E). At our Triangle, I found a Reverse Head and Shoulder Pattern + Bullish Flag pattern (Inside of our triangle) + Hammer🔨 Pattern at TRZ(Time reversal Zone) Until NOW, we have to wait and see how will it close?.
Also, if you are watching My Pitchfork’s Lines & Fib circles, you will know that these tools are working well on my chart. I tried to find the next movements by my Pitchfork’s Lines & Fib circles & Resistance Zones+ .
As I said at this post:
I do not expect that BTC will start 5 new impulsive waves soon. Good👍 news and Bad👎 news are near.
In addition, I tried to show you our Resistance Zones & Suppor Zones that we have in front of Bitcoin.
Resistance zones & Suppor Zones on Bitcoin’s way (Respectively):
Resistance zone: 39450$ until 39506$ (Resistance + Cluster of Fibs)/== Light Resistance
Resistance zone: 41340$ until 40800$ (Resistance + Cluster of Fibs) == Medium Resistance
Resistance zone: 44280$ until 44071$ (Bullish Flag Pattern’s Target + Cluster of Fibs ) == Medium Resistance
Resistance zone: 46186$ until 45320$ (Resistance + Cluster of Fibs + Yearly Resistance 2 + Reverse Head and Shoulder’s Target ) == Heavy Resistance
Support zone: 37596$ until 37267$ (Yearly Support 1+ Cluster of Fibs + Necking line) == Heavy Support
Support zone: 35288$ until 34820$ (Support + Cluster of Fibs) == Light Support
Support zone: 31620$ until 30960$ (Support + Cluster of Fibs) == Heavy Support
My Suggestion: If you find Triggers for buying bitcoin, please DO NOT buy your fund just in one step, enter in your trade with 2 or 3 steps// if you want to find Triggers for Long positions, you can concentrate on TRZ and Support zones( for example over my Hammer pattern) // Also, you can watch my Hypothetical ways, I will try to update.
Again sorry for the busy chart, if you have questions, please write them below this post. (If you like my explanation, please like✅ my post.
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 ‘like’ button 🙏😊 & Share it with your friends, Thanks, and Trade safe.
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