Bitcoin - Ready to grow again! Falling wedge is breaking out.

2024年10月4日

Bitcoin is ready to go higher! I expect Bitcoin to hit 64,000 - 63,500 USDT in the immediate short-term for the following reasons:

1. The falling wedge is breaking out, the price is now above the main trendline, and the downtrend is exhausted. 
   
2. My Elliott Wave count suggests that we have completed the corrective pattern WXYXZ (triple three). 
   
3. Bitcoin created 2 major FVG (fair value gaps) above the current price. Usually these gaps tend to be filled pretty quickly, so be ready for the bull price action!
   
4. The 200 1H MA (simple moving average) needs to be tested as well. We saw a breakout of this MA, but never seen a retest of it.
   
5. October is statistically an extremely profitable month for Bitcoin, so this gives us a statistical advantage.
   

Bitcoin is currently the most bullish coin from the high-cap category. Altcoins are not performing well, why? For this, we need to look at the BTC.D (Bitcoin Dominance) chart. I expect BTC.D to go up to 60%. After that, we should see an alt season!

Write a comment, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! This is not a trade setup, as there is no stop-loss or profit target. I share my trades privately. Thank you, and I wish you successful trades!

2024年10月5日

交易進行

It was possible to buy a retest of the wedge yesterday. Bitcoin is pumping; the next target is FVG1!

2024年10月6日

交易結束：目標達成

Bitcoin hit the FVG1 zone. This is our short-term profit target, but of course I expect Bitcoin to go much higher.