Will $BTC Correct Before Breaking $96K?
CME Gap Still Open ..
#Bitcoin is still moving in the upper areas of the Heavy Resistance zone
($95,000-$88,500), this type of movement does NOT seem to be enough to break Heavy Resistance zone ($95,000-$88,500), so I still
expect a correction.
The volume of Bitcoin's price rebound to the previous high does NOT seem to be sufficient, and even Regular Divergence(RD-) is evident.
According to Elliott Wave theory, it seems that Bitcoin has completed its 5 impulse waves and we should expect another decline. Of course, there is still a possibility that the main wave 4 will be an Expanding Flat(ABC/3-3-5). But both scenarios can bring us a decline in Bitcoin price.
I expect Bitcoin will NOT be able to break the
Heavy Resistance zone ($95,000-$88,500) before the CME Gap($92,525-$91,415) is filled, This is just my analysis of course, considering the above explanation. What do
you think?
Cumulative Short Liquidation Leverage:
$96,000-$95,095
Cumulative Long Liquidation Leverage:
$93,350-$92,551
Cumulative Long Liquidation Leverage:
$90,276-$89,160
Note: If Bitcoin goes over $96,100, we can
expect more pumps.
Please respect each other's ideas and express them politely if you agree or disagree.
Bitcoin Analyze ($BTC USDT), 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.
Buy and Trade here on $BTC #Fahadali786 #Binance