Bitcoin Roadmap: Breaking the Broadening Wedge – A Buy Signal?

3 hari yang lalu

After the tariffs that Donald Trump approved for the European Union and China, Bitcoin(BTCUSDT) received a shock with each approval. Otherwise, Bitcoin should have returned to the upward trend, at least in the short term.

Bitcoin seems to have failed to break 200_SMA(Daily), and most of the time the invalid break is accompanied by the opposite movement of that break with high momentum. Also, Bitcoin seems to have broken the Resistance zone($83,530_$82,250) and is pulling back to this zone.

In terms of Classic Technical Analysis, it seems that Bitcoin has succeeded in completing the Descending Broadening Wedge Pattern.

According to the theory of Elliott waves, Bitcoin seems to have completed five downward waves and we should expect Bitcoin to rise.

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

I expect Bitcoin to rise AFTER breaking the upper line of the Descending Broadening Wedge Pattern up to the targets I specified on the chart.

Do you think Bitcoin correction is over?

Note: If Bitcoin goes below the 200_SMA(Daily), expect more dumps.

Please respect each other's ideas and express them politely if you agree or disagree.

Bitcoin Analyze (BTCUSDT), 1-hour time frame.

Be sure to follow the updated ideas.

Do not forget to put a 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.

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Trade aktif

Trade was activated after breaking the upper line of the wedge pattern.

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Trading ditutup: target tercapai

First Target Done

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Catatan

Full Target Done

With the help of Trump news:

President Trump announces a “strategic cryptocurrency reserve, which includes XRP, SOL, and ADA.”

Let us recall that Donald Trump will meet with industry representatives at the “first crypto summit” at the White House on March 7.

The event will be hosted by Beau Hines, chairman of the cryptocurrency advisory board, and David Sacks has been appointed as the “crypto czar” and chairman.