Bitcoin Roadmap!!!==>>Falling!!!

2024年10月16日

Bitcoin ( BTCUSDT )is currently hovering near the Resistance zone($70,080-$68,250), Potential Reversal Zone(PRZ), the Upper line of the Ascending Channel, and Important Resistance lines(Bitcoin is attacking important resistance lines for the fifth time.).

According to Elliott's wave theory, Bitcoin seems to be completing the main wave 5. The structure of the main wave 5 can be Ending Diagonal.

Also, Regular Divergence (RD-) between Consecutive Peaks.

I expect Bitcoin to fail again on the 5th attack to the important resistance lines, and to break the lower line of the descending channel and decline to at least the first target on my chart. We should expect more Bitcoin dumps if Bitcoin loses the Support zone($66,500-$64,480).

⚠️Note: Tension between Iran and Israel could increase in the coming days, causing a sharp drop in Bitcoin.⚠️

⚠️Note: Open interest in futures markets has reached its highest level in 2024, while Volume Trading has decreased.⚠️

⚠️Note: If Bitcoin can break the Resistance zone($70,080-$68,250) and Resistance lines, we should wait for a new All-Time High(ATH) for Bitcoin.⚠️

Bitcoin Analyze (BTCUSDT), 1-hour time frame⏰.

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2024年10月16日

交易進行

Trade was activated

2024年10月17日

交易結束：目標達成

First Target Done