Bitcoin’s Falling Wedge Pattern Breakout—Next Stop: $100K?

2月12日

Bitcoin(BTCUSDT) started to fall after US indices(Core CPI m/m_CPI m/m_CPI y/y) were announced but rose again. One of the reasons for the rise of Bitcoin in the previous minutes was Trump's speech, which talked about negotiations with Russia."Trump: Putin and I agreed to have respective teams start negotiations immediately."=The possibility of the end of wars, in general, can increase investment security.

After several attempts to break the Support zone($96,520-$95,720), Bitcoin failed to break this zone and created a Fake Break.

Bitcoin is above the Support zone($96,150-$94,760) and near the upper lines of the Falling Wedge Pattern.

Regarding Elliott wave theory, Bitcoin seems to be completing the Double Three Correction(WXY) as the main wave X was completed minutes ago.

I expect Bitcoin to break the upper lines of the Falling Wedge Pattern soon and rise to the Targets I specified on the chart.

Note: If Bitcoin goes below $93,800, we have to wait for an attack on the Heavy Support zone($93,300-$90,500), and there is a possibility of a heavy fall in this situation.

Do you think the Falling Wedge Pattern will eventually increase Bitcoin?

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

Bitcoin Analyze (BTCUSDT), 1-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13日

交易進行

Trade was activated.

Note: If Bitcoin goes below $93,800, we have to wait for an attack on the Heavy Support zone($93,300-$90,500), and there is a possibility of a heavy fall in this situation.

2月14日

註釋

I transfer Stop Loss to Entry Point = Risk-Free

2月14日

註釋

USDT.D% Analysis

One of the good criteria for analyzing the Cryptocurrency market, especially Bitcoin, is the analysis of the USDT.D% chart.

It seems that USDT.D% has succeeded in breaking the Neckline of the Rounding Top Pattern, and this pattern can be a sign of a decrease in the USDT.D% index.

Educational Tip: The Rounding Top is a bearish reversal pattern that forms a gradual, dome-shaped peak, indicating a shift from bullish to bearish momentum. A breakdown below the support confirms the pattern, signaling a potential downtrend. Traders use it to anticipate selling opportunities.

As you know, the fall of USDT.D% can increase Bitcoin.

As a result, BTC will probably continue its upward trend.

2月14日

交易結束：目標達成

I closed manually

The rounding Top Pattern was not able to break the support zone.

I am bearish on BTC now.