Bitcoin Correction Forming a Triangle – Which Way Next?

5 дней назад

Bitcoin(BTCUSDT), just as I expected in the previous idea, started to decline and reached its full target.

Over the past 20 days, Bitcoin has been moving in a ranging pattern that seems to be forming into a triangle shape.

From an Elliott Wave perspective, this corrective structure also appears to be a triangle, with its wave E potentially completing around the Resistance zone($114,300-$113,000) and the Cumulative Short Liquidation Leverage($114,424-$112,000).

I expect that in the coming hours, Bitcoin can rise at least up to about $112,800. If the upward momentum is strong enough, we might even see it reach the upper lines of the triangle.

Cumulative Long Liquidation Leverage: $106,231-$104,648

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Bitcoin Analysis (BTCUSDT), 2-hour time frame.

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3 дня назад

Сделка активна

Trade was activated

вчера

Сделка закрыта: достигнута стоп-лосс цена

Stop Loss was touched for this analysis