started to rise as I expected in my previous post and hit all targets. Will Bitcoin continue the upward trend of the past two days!?
Please stay with me.
First of all, I have to say that Bitcoin is facing a Wall of Resistance lines(intersection of at least 4 Resistance lines). Do you think Bitcoin can easily break these resistance lines with a single attack?
Bitcoin is trading near the Resistance zone($87,520_$85,840), Potential Reversal Zone(PRZ)[$88,200_$86,930], and a Series of Resistance lines.
In terms of the Elliott Wave theory, Bitcoinappears to have completed Corrective waves. The corrective wave structure in the Ascending Channel is a Double Three Correction(WXY).
I expect Bitcoin to drop to $85,000 in the first step in the coming hours. The Second target is $84,333, and if the Support zone($84,430_$83,170) is broken, we should wait for the CME Gap($80,760_$80,380) to fill.
Do you think Bitcoin can break the wall of the Resistance lines, or will it start declining again?
Note: Donald Trump's speeches over the next hours could also affect the market, so trade a little more cautiously during this hour.
Trump’s Speech & Potential Tariffs
In today’s speech, Trump is expected to discuss new tariffs on imports from China, Mexico, and Canada, possibly ranging from 20-25%. If confirmed, this could impact global markets, strengthen the USD, and increase economic uncertainty.
Note: If Bitcoin touches $89,000, we should most likely expect more pumping.
Please respect each other's ideas and express them politely if you agree or disagree.
Bitcoin Analyze (BTCUSDT), 4-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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