Will BTC Correct Before Breaking $96K? CME Gap Still Open!
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Bitcoin analysis missed the Target with a tiny price difference =Risk Free was touched.
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.
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Bitcoin Analyze (BTCUSDT), 1-hour time frame.
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