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Tolberti

Bitcoin - Plan for the next 30 days! (This is going to happen)

Short
Bitcoin / TetherUS (BINANCE:BTCUSDT)  
Tolberti Updated   
BINANCE:BTCUSDT   Bitcoin / TetherUS
Beyond Technical Analysis Fundamental Analysis Support and Resistance BTCUSDT BTCUSD Descending Channel Zigzag FLAT Trend Line Break Falling Wedge
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beyondta fundamental supportandresistance btcusdt btcusd descendingchannel zigzag flat trendlinebreak fallingwedge
  • Bitcoin is moving in this huge parallel channel no one talks about, and the price is respecting it pretty well, including the middle trendline!
  • The current price of Bitcoin is around 25900 USD, which is very near its bottom in November 2022 at 16000 USDT. I expect this low to be followed by a huge crash, so make sure you are prepared for it. Bitcoin has been very weak compared to other assets this year.
  • In September, I expect Bitcoin to reach the strong horizontal line at 24820 and potentially take liquidity below it. There are a lot of stop-loss orders from traders, which is a magnet for whales.
  • This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately.
  • 1 week ago, we had a huge red dildo with a 14% decline. To me, this is an indication that the third wave is in progress in my Elliott Wave count. Wave 5 should go below wave 3 exactly as I have drawn it on the chart! But do not expect any big crashes in the short term. A swing failure pattern (SFP) is something that has a higher probability. Basically, you can buy/long the fifth wave.
  • This is my current plan for Bitcoin for the next 30 days. Of course, this is my main scenario, but I also have an alternate scenario, which I may post next time, but we will see!
  • Let me know in the comment section if you are shorting Bitcoin, but I recommend placing a buy order around 24800 for a quick bounce back to 26800!
  • Thank you, and for more ideas, hit "Like" and "Follow"!
Comment:
In the short-term, we have a descending triangle formation that will send the price of BTC down. But of course, there is a strong support below it.

snapshot
Comment:
Weekends on Bitcoin are usually pretty weak. Low volatility, nothing big, but you can trade ranges! This is the 4H chart of BTCUSDT on the 1 Minute chart. 👍

snapshot
Comment:
September is coming soon, and usually Bitcoin crashes in this month as it's the most bearish month statistically!

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