Bitcoin Needs Correction==>>Filling CME Gaps
Diupdate
Bitcoin started pumping after the announcement of the US Federal Funds Rate (The Federal Reserve lowered the US Federal Funds Rate by 0.5% to 5.00%.).
Considering that lowering Funds Rate is potentially good for the cryptocurrency market, lowering Funds Rate while the US government continues to print and spend money is a big mistake. I predict that investors may prefer bonds to riskier assets such as cryptocurrencies as interest rates fall.
Bitcoin is currently moving in the Resistance zone($63,500-$61,460), Potential Reversal Zone(PRZ), near the 21_SMA(Weekly) and 200_SMA(Daily), Yearly Resistance(3) and upper lines of the Ascending Channel.
According to the theory of Elliott waves, Bitcoin seems to have succeeded in completing the Zigzag correction(ABC/5-3-5).
Also, Regular Divergence (RD-) between Consecutive Peaks.
Before drawing a better conclusion, let's take a look at the USDT.D% and BTC.D% charts.
USDT.D% is moving near the Support zone, the lower line of the Descending Channel and the Potential Reversal Zone(PRZ). I expect USDT.D% to rise at least to the Resistance zone again, bringing down the Bitcoin price.👇
BTC.D% is moving in a Heavy Resistance zone. According to Elliott's wave theory, BTC.D% seems to be completing the main wave 5 with the Ending Diagonal. I expect BTC.D% to start its downward trend soon, which could cause Bitcoin to fall more than other tokens.👇
Based on the above explanation, I expect Bitcoin to at least drop to the Support zone($60,000-$59,100) and Support lines and fill the CME Gaps.
Note: If Bitcoin can break the Resistance zone($63,500-$61,460), we should expect Bitcoin to rise to at least $65,000.
Bitcoin Analyze (BTCUSDT), 1-hour time frame⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Considering that lowering Funds Rate is potentially good for the cryptocurrency market, lowering Funds Rate while the US government continues to print and spend money is a big mistake. I predict that investors may prefer bonds to riskier assets such as cryptocurrencies as interest rates fall.
Bitcoin is currently moving in the Resistance zone($63,500-$61,460), Potential Reversal Zone(PRZ), near the 21_SMA(Weekly) and 200_SMA(Daily), Yearly Resistance(3) and upper lines of the Ascending Channel.
According to the theory of Elliott waves, Bitcoin seems to have succeeded in completing the Zigzag correction(ABC/5-3-5).
Also, Regular Divergence (RD-) between Consecutive Peaks.
Before drawing a better conclusion, let's take a look at the USDT.D% and BTC.D% charts.
USDT.D% is moving near the Support zone, the lower line of the Descending Channel and the Potential Reversal Zone(PRZ). I expect USDT.D% to rise at least to the Resistance zone again, bringing down the Bitcoin price.👇
BTC.D% is moving in a Heavy Resistance zone. According to Elliott's wave theory, BTC.D% seems to be completing the main wave 5 with the Ending Diagonal. I expect BTC.D% to start its downward trend soon, which could cause Bitcoin to fall more than other tokens.👇
Based on the above explanation, I expect Bitcoin to at least drop to the Support zone($60,000-$59,100) and Support lines and fill the CME Gaps.
Note: If Bitcoin can break the Resistance zone($63,500-$61,460), we should expect Bitcoin to rise to at least $65,000.
Bitcoin Analyze (BTCUSDT), 1-hour time frame⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Trade aktif
The short trade was activated.
The first target can be $62,229, and if the Uptrend line breaks, we can expect CME Gaps to be filled.
Trading ditutup: target tercapai
✅First Target Done✅
👑Real & Accurcy Free & VIP Signals👉 t.me/ProTrader_365
📚Contact & Learning Technical Analysis 👉t.me/Ad_ProTrader365
🎁Signup for 30% Commission Futures Fees and 25% Bonus.👉
lbank.one/join/uu1DKdN
📚Contact & Learning Technical Analysis 👉t.me/Ad_ProTrader365
🎁Signup for 30% Commission Futures Fees and 25% Bonus.👉
lbank.one/join/uu1DKdN
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.