Bitcoin Roadmap==>>Correction Signs

9 de nov.

Bitcoin(BTCUSDT)is moving near the Upper line of the Ascending Channel and Potential Reversal Zone(PRZ)[$77,340-$76,600], which acts as a Resistance line.

According to the Elliott wave theory, Bitcoin has completed main wave 5 with the help of Ending Diagonal, and we should wait for Corrective Waves.

Note(Education): The Ending Diagonal is the Rising Wedge Pattern in terms of Classic Technical Analysis.

Also, Regular Divergence(RD-) between Consecutive Peaks in MACD and RSI and Volume Indicators.

Note: Since trading volume is usually low on Saturdays and Sundays, we can expect the main corrective movement to happen at the beginning of the next week.

I expect Bitcoin to have a corrective trend in the coming week, considering that there are attractive volumes for liquidating long positions at lower prices, as well as the technical analysis that I talked about above. Of course, from November 13 to November 15, important indexes will be released from the USA(Core CPI m/m, CPI m/m, CPI y/y, Core PPI m/m, PPI m/m, Unemployment Claims, Core Retail Sales m/m, Retail Sales m/m), which can impact Bitcoin's main trend.

⚠️Note: We can expect more pumps if Bitcoin breaks the Potential Reversal Zone(PRZ)[$77,340-$76,600]⚠️

Bitcoin Analyze (BTCUSDT), 1-hour time frame⏰.

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Do not forget to put Stop loss for your positions (For every position you want to open).

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10 de nov.

Trade fechado: stop atingido

Stop loss was touched.

10 de nov.

Nota

As I said, if the Potential Reversal Zone(PRZ)[$77,340-$76,600] breaks, we should expect a Bitcoin pump, and it happened, although I did not expect it.

New Potential Reversal Zone(PRZ):[$80,600-$79,500]

I think Wave 5 can be in the new PRZ.

Considering that Open Interest is very high and the areas for liquidating long positions at low prices are very attractive, Bitcoin may experience a sharp correction.

10 de nov.

Nota

Bitcoin has entered the Potential Reversal Zone(PRZ)[$80,600-$79,500], and for the following reasons, a correction in Bitcoin is possible, but we must follow capital management.

1-Funding Rate for Long positions has entered the risky zone.

2-Attractive areas for liquidation long positions

3-The index of fear and greed is in the range of extreme greed.

4-In terms of technical analysis, we can expect a correction. (The time frame is 5 minutes in this update). Bitcoin pullback may hit the upper line of the ascending channel.

If Bitcoin correction starts, we can expect it to decrease to $78,680-$78,400 in the first target.

The second Target can be: $76,620-$76,350

The Third Target can be around $75,800

Near the area of ​​$74,000, the maximum amount of liquidation for long positions can happen.

In my opinion, Bitcoin can even go up to 82700 dollars (in the spot market).

Opening a long position is risky if you trade on a high timeframe.

⚠️This is just an analysis; proceed according to your own strategy.⚠️

10 de nov.

Nota

Now, let's examine USDT.D% on the 1-hour time frame.

USDT.D% is currently moving in the support zone and near the Support line, and it has also fallen to the width of the broken descending channel.

According to the theory of Elliott waves, USDT.D% seems to have succeeded in completing the main wave 5.

A number of reversal candlestick patterns are also formed in the support zone, which can be a sign of the upward trend of USDT.D%(Inverted Hammer and ....).

The decrease in Bitcoin and other tokens can cause an increase of USDT.D%.

11 de nov.

Nota

As I expected, Bitcoin went down to the first LIQ $78,680-$78,400 yesterday.

Although due to the FOMO in the crypto market, the price was slightly higher than PRZ, in the end, the ✅first target was hit✅.