Critical zone for Bitcoin – Pump or Dump!(Mid-term Analysis)

3月17日

Today, I want to analyze Bitcoin(BTCUSDT) on a weekly time frame so that you can take a mid-term view of BTC. On November 12, 2024, I shared with you another weekly analysis in which we found the All-Time High(ATH) zone well.

Please stay with me.

Bitcoin has been on an upward trend for the past 27 months, increasing by about +600%. Have you been able to profit from this upward trend in Bitcoin?

During these 27 months, Bitcoin has had two significant corrections, the first correction -20% and the second correction -33% (interestingly, both corrections lasted about 5 months).

Another thing we can understand from the two main corrections is that the second correction is bigger than the first correction, and since Bitcoin is currently in the third correction, we can expect the third correction to be either equal to the second correction or greater than the second correction. Of course, this is just an analysis that should be placed alongside the analyses below.

It seems that the start of Bitcoin's correction can be confirmed with the help of the Adam & Adam Double Top Pattern(AADT). Bitcoin also created a fake breakout above the Resistance lines.

Educational tip: The Adam & Adam Double Top (AADT) is a bearish reversal pattern characterized by two sharp, ^-shaped peaks at nearly the same price level. It indicates strong resistance and a potential trend reversal once the price breaks below the neckline between the peaks.

Bitcoin appears to be completing a pullback to the broken neckline.

According to Elliott's Wave theory, Bitcoin seems to have completed its 5 impulse waves, and we should wait for corrective waves. It is a bit early to determine the structure of the corrective waves, but I think it will have a Zigzag Correction. The structure of the corrective waves depends on the news and events of the coming weeks and months.

I think the Potential Reversal Zone(PRZ)[$90,000-$86,800] will be a very sensitive zone for Bitcoin.

I expect Bitcoin to start correcting again when it approaches $87,000 or $90,000 at most, and fills the CME Gap($86,400_$85,595), and at least approaches the Heavy Support zone($73,800_$59,000) AFTER breaking the uptrend line.

In your opinion, has Bitcoin finished its correction or created an opportunity for us to escape again?

Note: If Bitcoin goes above $90,500, we should expect further increases and even make a new All-Time High(ATH).


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

Bitcoin Analyze (BTCUSDT), Weekly time frame.

Be sure to follow the updated ideas.

Do not forget to put a 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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3月19日

交易進行

Short Position was activated = BTC near Potential Reversal Zone(PRZ)[$90,000-$86,800]

4月7日

交易結束：目標達成

Bitcoin moved as it did in the analysis on March 17. Potential Reversal Zone(PRZ)[$90,000-$86,800] performed well and hit the analysis target as well as Bitcoin.