1D time frame
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With the fake new(BTC ETF approval) released, Bitcoin matched our previous analysis by unexpected trend on 16th October. Currently, Bitcoin is creating a potential Diamond structure, which is a top structure here, and it could be regarded as Head and Shoulders structure(ref.1).
According to this Diamond, Bitcoin might retest 30k again in near future, and start going down by December, once Bitcoin breaks below this diamond, huge dump will be following. There are four targets for the trading plan.
TP1: 28000
TP2: 25000
TP3: 19500~21000
TP4: 17600~18600
Range 17600~18600 is the bear bottom I think. On the basis of time structure, we can see this price around December '23~January '24, get ready for this sweet price!
Ref.1 Bitcoin analysis about HS structure and bear bottom.
-
With the fake new(BTC ETF approval) released, Bitcoin matched our previous analysis by unexpected trend on 16th October. Currently, Bitcoin is creating a potential Diamond structure, which is a top structure here, and it could be regarded as Head and Shoulders structure(ref.1).
According to this Diamond, Bitcoin might retest 30k again in near future, and start going down by December, once Bitcoin breaks below this diamond, huge dump will be following. There are four targets for the trading plan.
TP1: 28000
TP2: 25000
TP3: 19500~21000
TP4: 17600~18600
Range 17600~18600 is the bear bottom I think. On the basis of time structure, we can see this price around December '23~January '24, get ready for this sweet price!
Ref.1 Bitcoin analysis about HS structure and bear bottom.
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