Bitcoin Analysis==>> Falling

Jun 7, 2024

Bitcoin once again started to react strongly after entering the Resistance zone($73,800_$71,900). Although it tried to break this zone😊.

According to the Elliott wave theory, Bitcoin seems to have succeeded in completing the Main wave 5.

In the chart, we can also see the Sell signal between 50_SMA(Daily) and 100_SMA(Daily) (it is a Bearish sign).

Also, we can see the Regular Divergence(RD-) between two Consecutive Peaks.

I expect Bitcoin to continue falling at least to My targets.

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.

Jun 8, 2024

Trade active

Jun 8, 2024

Note

Considering that the volume of trading is low on Saturdays and Sundays, we should not expect a further drop on these two days, but the analysis is still valid.

Jun 9, 2024

Note

If BTC can go up over $72,280, the scenario will be changed.

Jun 11, 2024

Trade closed: target reached

First Target

Jun 20, 2024

Trade closed: target reached

Second Target Done