Bitcoin Faces a "Resistance Lines WALL" – Breakout or Breakdown?

4月2日

Bitcoin(BTCUSDT) started to rise as I expected in my previous post and hit all targets. Will Bitcoin continue the upward trend of the past two days!?

Please stay with me.

First of all, I have to say that Bitcoin is facing a Wall of Resistance lines (intersection of at least 4 Resistance lines). Do you think Bitcoin can easily break these resistance lines with a single attack?

Bitcoin is trading near the Resistance zone($87,520_$85,840), Potential Reversal Zone(PRZ)[$88,200_$86,930], and a Series of Resistance lines.

In terms of the Elliott Wave theory, Bitcoin appears to have completed Corrective waves. The corrective wave structure in the Ascending Channel is a Double Three Correction(WXY).

I expect Bitcoin to drop to $85,000 in the first step in the coming hours. The Second target is $84,333, and if the Support zone($84,430_$83,170) is broken, we should wait for the CME Gap($80,760_$80,380) to fill.

Do you think Bitcoin can break the wall of the Resistance lines, or will it start declining again?

Note: Donald Trump's speeches over the next hours could also affect the market, so trade a little more cautiously during this hour.

Trump’s Speech & Potential Tariffs

In today’s speech, Trump is expected to discuss new tariffs on imports from China, Mexico, and Canada, possibly ranging from 20-25%. If confirmed, this could impact global markets, strengthen the USD, and increase economic uncertainty.

Note: If Bitcoin touches $89,000, we should most likely expect more pumping.

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

Bitcoin Analyze (BTCUSDT), 4-hour 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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4月3日

交易進行

Trade was activated in PRZ

4月4日

交易結束：目標達成

As I expected, Bitcoin started to decline from the Potential Reversal Zone(PRZ)[$88,200_$86,930]. Of course, during Donald Trump's speech, we saw a fake break, but in the end, Bitcoin could not prevail against a wall of resistance lines.

It is better to know that Bitcoin is following the US indices these days.