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Bitcoin "Elliot Wave" Price Analysis

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BINANCE:BTCUSDT   Bitcoin / TetherUS
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Three Phase of Market

Phase 1 : Contraction (Range)
Phase 2 : Expansion ( Bearish )
Phase 3 : Trend Up ( Bullish )

Contraction is a phase where price trade in a certain range

Expansion is a phase where bulls trap themselves this also called Stop Loss Hunting to get more cash in assest.

Trend Up is a phase where smart money will act as extreme bullish


This kind of pattern you can observe very often in a smaller time frame.Currently BITCOIN under Expansion phase as per the current phase we can expect price of BTC fall till $22700 to $22300. So buyers can act at end of expansion phase

Fresh Entry $23000

Target $25900

Stop Loss $22300

Happy Trading
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