Bitcoin’s Bullish Patterns_Ready for a Breakout!?

2月19日

As I expected in the previous post, Bitcoin(BTCUSDT) approached the Heavy Support zone($93,300-$90,500) and Support lines but quickly started to rise.

Bitcoin is moving in the Support zone($96,150-$94,700). And in this increase of Bitcoin in the last few hours, we can see the Morning Star Candlestick Pattern well in the 2-hour time frame.

Educational tip: The Morning Star is a bullish reversal candlestick pattern that forms after a downtrend, consisting of three candles: a large bearish candle, a small indecisive candle, and a strong bullish candle. It signals a potential trend reversal and growing buying momentum.

In terms of Classic Technical Analysis, it seems that Bitcoin has succeeded in forming the Descending Broadening Wedge Pattern, which can be a sign of Bitcoin's increase.

According to the theory of Elliott waves, it seems that the entire corrective waves inside the descending channel were all in the form of a Zigzag Correction(ABC/5-3-5) so that it seems that Bitcoin finally completed the main wave C in the previous hours. If Bitcoin breaks the upper line of the wedge pattern, we can confirm the end of the main wave C.

I expect Bitcoin to be able to touch the Targets I specified on the chart AFTER breaking the upper line of the Descending Channel.

Note: If Bitcoin goes below $94,400, we expect more dumps.

Do you think Bitcoin can finally break out of this Descending Channel? Pump or Dump?

Please respect each other's ideas and express them politely if you agree or disagree.

Bitcoin Analyze (BTCUSDT), 2-hour time frame.

Be sure to follow the updated ideas.

Do not forget to put Stop loss for your positions (For every position you want to open).

Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.

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2月20日

交易進行

Trade was activated after breaking the upper line of the Descending Broadening Wedge Pattern.

2月20日

交易結束：目標達成

First Targett Done; if you did not close your position, you can RISK-FREEE.

2月21日

註釋

Full Target Done, what is your idea? Can BTC continue upward or drop again?