🗺️Bitcoin Roadmap🗺️⏰(4-hour time frame)⏰
📈Today I want to show you all the Resistance/Support lines and areas that we should consider for Bitcoin analysis and trading.
💡Bitcoin with the announcement of the spot Bitcoin ETF application file by the Swiss company Pando is 3 weeks after this company's request by the SEC, and the listing of ARK 21Shares spot ETF in DTCC broker started to rise from the 🟢Support zone($40,900_$40,200)🟢 to the 🔴Resistance zone($43,500_$42,800)🔴.
💡Bitcoin is currently in a sensitive area, so that it seems to have succeeded in breaking the 🔴Resistance zone($43,500_$42,800)🔴. On the other hand, there are Resistance lines and 🟡Price Reversal Zones (PRZs)🟡above the current price of Bitcoin.
🧐So now that Bitcoin is in a sensitive area, we should use other technical analysis tools such as Elliott Wave Theory.
🌊According to the theory of Elliott waves, Bitcoin seems to have succeeded in completing the correction structure of Double Three Correction(WXY). In such a way that the main wave W and Y have a Zigzag(ABC/5-3-5) correction structure, so it can be said that the correction structure is Double Zigzag Correction(WXY), which is a special type of Double Three Correction.
💡Another thing to keep in mind is that I expect the DXY index to go up and have a negative effect on Bitcoin due to the correlation(-0.60) between Bitcoin and the DXY index. On the other hand, it is very likely that in the coming week, the Gold chart will also have a downward trend (Gold has a Correlation of 0.51 with Bitcoin at the moment), so Gold can also have a negative effect on Bitcoin.
💡Also, we can see Strong Regular Divergence(RD-) between two Consecutive Peaks.
🔔As a result, I expect Bitcoin to Fall to at least the Support line(1) in the coming days
🚦Since Volume Trading is usually low on Saturdays and Sundays, perhaps the decline of Bitcoin will be a little delayed.
📚Regarding the possibility that the spot Bitcoin ETF will be approved around January 10, I can say that I think the market is currently full of news about this issue and we saw its effect on the chart weeks ago, so I think Bitcoin can still be corrected until it really is. Let confirmation spot Bitcoin ETF come so we can see another exciting movement in the crypto market.
❗️⚠️Note⚠️❗️: If BTC can touch $44,800, Bullish Scenario will be active == Next 🎯Target🎯 ==🟡Price Reversal Zones (PRZ(1))🟡.
❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed.
Bitcoin Analyze ( BTCUSDT ), 4-hour time frame ⏰.
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 gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
💡Bitcoin with the announcement of the spot Bitcoin ETF application file by the Swiss company Pando is 3 weeks after this company's request by the SEC, and the listing of ARK 21Shares spot ETF in DTCC broker started to rise from the 🟢Support zone($40,900_$40,200)🟢 to the 🔴Resistance zone($43,500_$42,800)🔴.
💡Bitcoin is currently in a sensitive area, so that it seems to have succeeded in breaking the 🔴Resistance zone($43,500_$42,800)🔴. On the other hand, there are Resistance lines and 🟡Price Reversal Zones (PRZs)🟡above the current price of Bitcoin.
🧐So now that Bitcoin is in a sensitive area, we should use other technical analysis tools such as Elliott Wave Theory.
🌊According to the theory of Elliott waves, Bitcoin seems to have succeeded in completing the correction structure of Double Three Correction(WXY). In such a way that the main wave W and Y have a Zigzag(ABC/5-3-5) correction structure, so it can be said that the correction structure is Double Zigzag Correction(WXY), which is a special type of Double Three Correction.
💡Another thing to keep in mind is that I expect the DXY index to go up and have a negative effect on Bitcoin due to the correlation(-0.60) between Bitcoin and the DXY index. On the other hand, it is very likely that in the coming week, the Gold chart will also have a downward trend (Gold has a Correlation of 0.51 with Bitcoin at the moment), so Gold can also have a negative effect on Bitcoin.
💡Also, we can see Strong Regular Divergence(RD-) between two Consecutive Peaks.
🔔As a result, I expect Bitcoin to Fall to at least the Support line(1) in the coming days
🚦Since Volume Trading is usually low on Saturdays and Sundays, perhaps the decline of Bitcoin will be a little delayed.
📚Regarding the possibility that the spot Bitcoin ETF will be approved around January 10, I can say that I think the market is currently full of news about this issue and we saw its effect on the chart weeks ago, so I think Bitcoin can still be corrected until it really is. Let confirmation spot Bitcoin ETF come so we can see another exciting movement in the crypto market.
❗️⚠️Note⚠️❗️: If BTC can touch $44,800, Bullish Scenario will be active == Next 🎯Target🎯 ==🟡Price Reversal Zones (PRZ(1))🟡.
❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed.
Bitcoin Analyze ( BTCUSDT ), 4-hour time frame ⏰.
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 gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Trade active
Comment:
If Bitcoin touches $43,120, we can expect a further fall.
Comment:
Bitcoin has been moving between support and resistance zones for more than 2 days.
🟢Support zone($43,500_$43,220)🟢
🔴Resistance zone($44,280_$44,120)🔴
🟢Support zone($43,500_$43,220)🟢
🔴Resistance zone($44,280_$44,120)🔴
Comment:
Great movement, As I expected
Trade closed: target reached:
Congratulations to those who were patient and finally, Bitcoin moved according to the analysis, although I said in the text of the post that we will have a delay in the fall of Bitcoin.
Comment:
If Bitcoin touches $42,450, we can conclude that the 🔴Resistance zone($43,500_$42,800)🔴 has not been broken, and Bitcoin has created a bull trap.
Comment:
It seems that as I said in the previous update, we saw a bull trap.
Comment:
🟡Price Reversal Zones (PRZ(2))🟡 worked very well.
