Bitcoin: Full February plan (125K shortly)
2025-02-02
Category: None

Since the price of bitcoin broke out of the falling wedge formation and was successfully retested twice, its price action is incredibly bullish right now! We may anticipate higher prices over the next few days and weeks because there isn't anything particularly negative about the price action.

Three powerful levels are visible on the chart, which you can utilize to guide your trading selections. The symmetrical triangle's 0.382 FIB and POC mark the initial level, which is located at 105,544 USDT. Following a breakout, this level will probably be tested soon. This implies that Bitcoin may surge above $110,000, then return to test this level before rising further. 110,342 USD is the second level price. Because it is the 0.618 FIB extension from wave 1 to wave 2, this level is likewise quite powerful.

We can anticipate a liquidity sweep above this swing high and a brief downturn since it is also above the prior all-time high. At 118,109 USDT, the third level is located. We also have a 1:1 FIB extension, and as you may know, Bitcoin responds to this extension rather consistently, so this is another important level. It's among the greatest.

The Elliott Wave analysis shows that the price action is likewise bullish. Impulse wave 3 has begun, and we have just completed the ABC correction with a 1:1 FIB extension. The 1:1 FIB extension may also mark the end of this wave 3, but we must watch for trendlines, chart patterns, and maybe RSI bearish divergence.

For the upcoming days and weeks, this is my main strategy. The other strategy is that the ABC correction (wave 2) may become a WXYXZ triple three corrective wave if it is not finished.
I'll provide you with an analysis if you leave a comment with your altcoin. For more inspiration, please hit boost and follow. If you have a skilled coach, trading is easy! Since there is no stop-loss or profit goal, this is not a trade setup. I keep my trades to myself. Thank you, and best of luck with your transactions!

