Hi, probably when you are reading this post, you are confused🤔 that what will happen for Bitcoin. I tried to specify two scenarios that can happen in the next few days.
Bitcoin Analyze ( BTCUSDT ) Timeframe 12h⏰
Location🌊: about the location of Bitcoin, please read my post with the topic ''Bitcoin Analyze( Road Map🗺️)!!!''.
Bitcoin was able to break the necking line of the Head and Shoulder Pattern a few days ago. also, the failure volume was sufficient for a valid failure. so scenario 2 is more possible than scenario 1.
🔴 Scenario 1: Bitcoin can break the heavy resistance zone and start a new journey for taping a new ATH == The head and shoulder pattern will fail.
🔴 Scenario 2: Bitcoin is pulling back to its necking line and finally will break the heavy support zone and the support lines == The head and shoulder pattern's target will touch.
🔴Resistance zones & Support Zones on Bitcoin's way :
Heavy Resistance Zone: 51600$ until 53600$
Heavy Support Zone: 48940$ until 47630$
Heavy Support Zone: 44600$ until 43000$
❗️Sign❗️: if you remember that when we were at around 36000$, Bitcoin touched 48168$ on BITCOIN / TETHERUS PERPETUAL FUTURES , and finally, the price arrived itself to this amount, three days ago we saw the same happens, and Bitcoin dropped down from 53889$ to 40888$, probably Bitcoin will arrive at 40888$ again👇
🔴RSI Analyze: RSI is moving on descending channel + we watched one of the valid bearish signals for RSI === Bearish Failure Swing. In addition, RSI broke its support line and now is pulling back to it.👇
🔴November candlestick pattern: we can find 💫Shooting Star💫Pattern ( Bearish ) = The trigger was activated. 👇
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅'like'✅ button 🙏😊 & Share it with your friends, Thanks, and Trade safe
hi, Pejman I always follow your analysis and you are doing a great job 👍👍. Here I have a comment. best case head and shoulders are in the fifth Elliott wave that 3rd 5wave and 2 waves of next wave make the head and shoulder but here we have ABC so in the ascending B wave we see a 3-3-5 wave and in the descending C wave it is 5-3-5-3-5 you have put the inner C wave of (the 3rd wave of 3-3-5)B and the C wave of the bigger ABC in one head and shoulder I think it would result in a false turning point, and the last leg of the head and shoulder would go much lower .
Cheers
pejman_zwin
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@babak_n, thanks for sharing your idea and following me💐🙏, in this post, I didn't use Elliott waves, please refer to my post with the topic ''Bitcoin Analyze( Road Map🗺️)!!!'' Cheers