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Bitcoin moved as I expected in previous posts and was able to touch the upper line of the Ending Diagonal again (MicroStrategy helped in this movement by buying $600 million of Bitcoin).
đThe Ending Diagonal Pattern (Elliot's point of view) is the same as the Rising Wedge Pattern (Classical Analysis point of view).
đAccording to the theory of Elliott waves, Bitcoin is at the end of the main wave 3, so to complete this wave, microwave 5 of the main wave 3 had an Ending Diagonal structure.
đĄIn my opinion, the Ending Diagonal Pattern is standard so that the Fibonacci ratios are consistent with this pattern, as well as Regular Divergence(RD-) between Consecutive Peaks.
đI expect Bitcoin to start falling after breaking the lower line of the Ending Diagonal Pattern and Support lines and at least fall to đąSupport zone($36,000_$35,280)đą or maybe Fill the lower đ”CME Gapsđ”.
âïžâ ïžNoteâ ïžâïž: If BTC can break the đĄPRZđĄ, the Scenario will change.
âïžâ ïžNoteâ ïžâïž: An important point you should always remember is capital management and lack of greed.
Bitcoin Analyze ( BTCUSDT ), 4-hour time frame â°.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the â ' like'â button đđ & Share it with your friends; thanks, and Trade safe.
đThe Ending Diagonal Pattern (Elliot's point of view) is the same as the Rising Wedge Pattern (Classical Analysis point of view).
đAccording to the theory of Elliott waves, Bitcoin is at the end of the main wave 3, so to complete this wave, microwave 5 of the main wave 3 had an Ending Diagonal structure.
đĄIn my opinion, the Ending Diagonal Pattern is standard so that the Fibonacci ratios are consistent with this pattern, as well as Regular Divergence(RD-) between Consecutive Peaks.
đI expect Bitcoin to start falling after breaking the lower line of the Ending Diagonal Pattern and Support lines and at least fall to đąSupport zone($36,000_$35,280)đą or maybe Fill the lower đ”CME Gapsđ”.
âïžâ ïžNoteâ ïžâïž: If BTC can break the đĄPRZđĄ, the Scenario will change.
âïžâ ïžNoteâ ïžâïž: An important point you should always remember is capital management and lack of greed.
Bitcoin Analyze ( BTCUSDT ), 4-hour time frame â°.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the â ' like'â button đđ & Share it with your friends; thanks, and Trade safe.
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Kommentera:
As I said before, if đĄPRZđĄbreaks, the scenario will change.
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đPlease follow us on Telegram for more analysis.đ t.me/ProTrader_365
đif you want to learn Technical Analysis = Please Contact međ t.me/Ad_ProTrader365