💡Signs of the end of the Bitcoin Range Market💡

Hi everyone👋(Reading time less than 5 minutes⏰).

Bitcoin has been moving in a Rectangle Pattern for over 25 days⏰.

📚Rectangular Pattern: The rectangle is a classical technical analysis pattern described by horizontal lines showing significant support and resistance. It can be successfully traded by buying at support and selling at resistance or by waiting for a breakout from the formation and using the measuring principle.

🌊According to the theory of Elliott waves, the structure of the main wave 5 was Expanding Ending Diagonal, and it is expected that the beginning of corrective waves will be confirmed after the break of the lower line of the rectangle pattern.

💡Bitcoin's entry into the lower area of ​​the rectangle pattern is different this time than before, as it is the first time in the past two or three days that Bitcoin has significantly broken below the 100-SMA and 100-EMA.

💡Also, a SELL signal can confirm the end of the five impulse waves of Bitcoin.

🔔I tried to chart the possible movements of Bitcoin over the next 2-3 days.

🔔I expect Bitcoin to FALL to at least the 🟢support zone($28,450-$28,080)🟢 after breaking the lower line of the rectangle pattern.
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🌐➕Positive News➕🌐:

Rich Dad Poor Dad Author Says He’s Sticking With Bitcoin (BTC) Amid ‘Sad’ State of America.

A recent Glassnode report shows that the number of addresses with at least one Bitcoin(BTC) has reached an all-time high

SEC accepts BlackRock’s Bitcoin ETF application for review

🌐➖Negative News➖🌐:

Major Australian Bank Bans Payments to Binance Amid Regulatory Crackdown.

Financial Stability Board Calls for Tougher Global Crypto Rules After Year of Turmoil

US Government Moves $305,000,000 Worth of Bitcoin (BTC) Seized From Silk Road
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Bitcoin Analyze ( BTCUSDT), 4-hour time frame⏰.

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 be glad to see your ideas in this post.

Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.

Handel aktiv

Kommentera:

Bitcoin again reacted to the bottom of the rectangle pattern

Kommentera:

Running well

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