Bitcoin's Structure Breaks — PRZ May Trigger a Bounce

5 Haz

Bitcoin(BTCUSDT) has finally continued its downward trend, as I expected in my previous idea.

Do you think this downward trend will continue or not?

Bitcoin has now managed to break the Support zone($104,180-$103,670) and the lower line of the Ascending Broadening Wedge Pattern.

In terms of Elliott Wave theory, Bitcoin appears to be completing microwave C of the main wave Y of the Double Three Correction(WXY).

I expect Bitcoin to continue to decline to the Support zone($102,000-$107,120) and the Potential Reversal Zone(PRZ)[$102,000-$101,430] and then start to rise again.

I choose to label this idea as ''Long''.

Note: If Bitcoin falls below $100,200, we should expect further declines.

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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6 Haz

İşlem aktif

The short position hit the target, and the long position is currently in progress.

The long position was activated in the Potential Reversal Zone(PRZ)[$102,000-$101,430].

6 Haz

İşlem kapandı: hedefe ulaştı

Long position = Target Done