Bitcoin Price Analysis 💰(Channel, Elliott wave, Fibonachi, ...)

16 de jun. de 2022

BTCUSDT

Hello everyone 💙
In this post, I want to update my opinion about Bitcoin and Cryptocurrencies.
Bitcoin has fallen more than 68% from its November high.
I use a combination of the LongTerm and MidTerm Parallel channels, Elliot wave theory and Fibonacci levels to predict the bitcoin price. then find PRZ(high potential zone) by intersection between target levels and find suitable zone for buying bitcoin.

🔹Parallel Channel:

• bitcoin is in a downtrend channel from 69k
• My priority to change the trend is breaking the downTrend channel and the weekly RSI trend line.
  
• In longTerm bitcoin is inside a channel(Gray-Dotted) and the bottom side of this channel is a suitable level for buying bitcoin.
  
• Intersection between fibonachi levels, bottom side of channels and S/R is a very good spot for enter into a long postion.
  

🔹Elliot wave and Fibonachi:

• I see this bitcoin move as the last wave of correction.
  
• The end of wave (c) of the last corrective move can be at levels 100% and 161.8% of the Fibonacci extension.
  
• Intersection between 50% of fibonachi retracement and 161.8% of fibonachi extention is at 14K - 14.8k.

🔹 Also some important things about the Bitcoin chart:

• RSI is at the all time low value. (weekly time frame)
  
• Bitcoin finally hit the MA(200) . (weekly time frame)
  
• USDT.D is around the top side of longTerm channel.
  
• I see positive divergence in bitcoin and negative divergence in USDT.D
  
• The overall market capitalization of crypto assets has dropped to less than $1 trillion from its November 2021 peak of $3 trillion.
  

🔹 Fundamental tips for bitcoin and cryptocurency market:
I have consulted my friends who are fundamentalists and I will tell you their advices.

• For more confirmation to buying bitcoin we should estimate the US interest rate ceiling. so we have to follow news and FED meetings.
  
• Lower oil prices reduce inflation and i think whenever oil prices falls below $100 is a good time to buy bitcoin.
  

🔹 My main levels to enter into BTC HOLD position:

• The bottom side of longTerm channel(gray-dotted). follow the price and whenever see the trigger open your position. about 17k - 19k
• 20k - 23K (The price is exactly at this point now.)
  
• 14K - 14.8k
• Also i'm ready for lower prices and any horrible crypto crash!
  

💙 Sarmayeh Abi 💙