Hi everyone๐(Reading time less than 2 minutesโฐ).
First, I must say that Bitcoin reacts well to ๐ดPitchfork lines๐ด, so one of our criteria for support and resistance lines for Bitcoin can be Pitchfork lines in the daily time frameโฐ.
In theory, Bitcoin Elliott Waves completed its five impulse waves at a ๐ดheavy resistance zone($ 31,750-$ 28,140)๐ด.
๐Teaching Tip๐: Mostly, heavy support and resistance areas are not broken with a single attack.
Bitcoin has been moving in a descending channel for about 2 months. The structure of the waves in this descending channel is Double Three Correction(WXY).
Bitcoin is currently completing microwave B of the main wave Y. I expect this wave to finish above the descending channel and in the ๐กTime Reversal Zone(TRZ)๐ก.
The end of the Double Three Correction structure can end in the ๐ขsupport zone($ 25,280-$ 24,410)๐ข.
Bitcoin Analyze ( BTCUSDT ), Daily time frame โฐ.
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 be glad to see your ideas in this post.
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