Bitcoin Analyze (Road Map, 03/13/2023)!!!🗺️

2023년 3월 13일

Hi everyone.👋

Because Bitcoin grew by more than 😱20%😱 in the last 24 hours. I decided to update the roadmap I shared with you on Feb 26.👇

Better first, let's take a look at the fundamental reason for Bitcoin's rise:

Fundamental:

Why are Bitcoin and Crypto Prices Rising❗️❓

After the recent collapse of Silicon Valley bank and the domino effect falling upon Signature Bank due to the Federal Reserve raising interest rates, Fed gave an announcement stating decisive actions to protect the US economy.

Fed’s plan is to do this by increasing the USD liquidity and have bailed SVB out of short liquidity. Increased USD liquidity means an increase in taking risks by investors which has caused a bullish sentiment on the complete cryptocurrency market.

Bitcoin and other cryptocurrencies have rallied in response to the United States Federal Reserve's injection of liquidity into the economy.

🔓Here are the main factors that caused this reaction by the market:🔓

• Fed bails out Silicon Valley Bank depositors
  
  

• Speculation gathers over Fed interest rate "pivot"
  

• BTC price jumps to 24K in blistering comeback
  

• USDC looks to regain $1 peg
  

• Sentiment rebounds as "short squeeze" risk rises
  

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Technical:

Now let's take a look at the possible 🗺️roadmap🗺️ of Bitcoin:

Bitcoin completed the main wave A with the Double Three Correction structure(WXY) so that the end of wave A played the role of a bear trap for traders.

It seems that the main wave B has a zigzag correction(ABC/5-3-5) structure due to the sharpie of microwave A (5 microwaves)from the main wave B.

I expect microwave B from the main wave B to touch the 🟢support zone($21,600-$20,940)🟢 again and the main wave B to finish in the areas I have 🎯marked🎯on the chart.

Bitcoin Analyze ( BTCUSDT ), 4-hours time frame ⏰.

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

Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post.

Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.

2023년 3월 13일

노트

Do you agree❗️❓