pejman_zwin

🚧Bitcoin Can Drop by Rising Wedge Pattern🚧

Short
pejman_zwin Updated   
BINANCE:BTCUSDT   Bitcoin / TetherUS
🏃‍♂️Bitcoin re-entered the 🟡Price Reversal Zone(PRZ)🟡 and is currently moving in this zone.

📈If we look at the chart from the view of Classical Analysis, it seems that Bitcoin has succeeded in forming a Rising Wedge Pattern.

🌊In terms of Elliott wave theory, Bitcoin seems to be completing wave C of the corrective Zigzag(ABC/5-3-5) structure.

💡Also, we can see Regular Divergence(RD-) between Consecutive Peaks.(Volume)

🔔I expect Bitcoin to start falling again after touching the upper line of the Rising Wedge Pattern and at least fall to the lower line. If Bitcoin manages to break the support lines and the lower line of the wedge, we should expect Bitcoin to fall to the 🟢Support
zone($36,000_$35,560)
🟢.

❗️⚠️Note⚠️❗️: If BTC can break the 🟡PRZ🟡, the Scenario will change.

❗️⚠️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.
Comment:

Bearish Crab Harmonic Pattern can trigger us. (15-minute time frame).
Comment:
BTC can deop from the current price.

Maybe BTC will not touch the upper line of Rising Wedge Pattern.
Comment:
If BTC can break the lower line of the Rising Wedge Pattern, most probably BTC will touch the 🟢Support zone($36,000_$35,560)🟢.
Trade closed: target reached:
BTC was able to touch the lower line of Rising Wedge.
Comment:
The upward trend up to the upper line of the Rising Wedge was also done by buying a microstrategy.

🎁Get a 20% Discount on your trading FEE on Bingx: shorturl.at/cfhE3

👑Free & VIP Signals: t.me/ProTrader_365

📚if you want to learn Technical Analysis = Please Contact me
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.