Bitcoin Reaches PRZ with Bearish Signals — Is a Drop Imminent?

前天

Bitcoin(BTCUSDT) has reached the Potential Reversal Zone(PRZ)[$108,140-$106,950] as I expected in yesterday's post.

Bitcoin is trading in the Heavy Resistance zone($110,720-$105,820), Potential Reversal Zone(PRZ)[$108,140-$106,950], and near the Resistance lines.

In terms of Elliott Wave theory, it seems that Bitcoin has managed to complete the main wave 5 with the help of the Ending Diagonal. The structure of wave 5 can be different.

Also, we can see the Regular Divergence(RD-) between Consecutive Peaks.

I expect Bitcoin to drop to at least $105,400.

Cumulative Short Liquidation Leverage: $107,334-$108,250

Cumulative Long Liquidation Leverage: $105,037-$103,392

Note: We could be in for a bit of excitement in the financial markets during Federal Reserve Chairman Powell's speech.

Note: Stop Loss(SL)= $109,020 = We can expect more pumps.

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Bitcoin Analyze (BTCUSDT), 1-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).

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14 小時前

交易進行

11 小時前

註釋

I transferred the Stop Loss(SL) to the Entry Point(EP).

11 小時前

註釋

Probably if BTC touches $108,200 it will be able to break the Resistance lines this time = More pumps

The first sign could be Bitcoin breaking through $107,820.

My short position is still open.

6 小時前

手動結束交易

Risk Free was touched at $107,820