Bitcoin Roadmap!!!==>>Short term
2024-10-02

After the  tension  between  Iran and Israel , Bitcoin  started to fall  and once again fell below  21_SMA(Weekly)  and  200_SMA(Daily) .

 In previous posts , I  warned you about the fall of Bitcoin , and I hope it was useful.

 Bitcoin  is currently approaching the  Resistance zone($62,860-$62,110)  and  21_SMA(Weekly) .

According to  Elliott's wave theory , Bitcoin is  completing wave 4 . The  main wave 4  structure is most likely a  Zigzag Correction(ABC/5-3-5) . If Bitcoin  breaks  the  support lines , we can confirm the  end of wave 4 .

I expect  Bitcoin  to break down to at least the  Support zone($60,000-$59,100)  in the coming hours.

 Fundamental analysis :  On-chain data  shows that the number of  active Bitcoin addresses  has recently  dropped sharply . This decrease started in  March 2024  and is the biggest  drop since 2021 . This trend could be a  bearish sign for Bitcoin .

 ⚠️Note: If Bitcoin can break the Resistance zone($62,860-$62,110) and go above $63,460, we should wait for Bitcoin to rise again.⚠️ 

⚠️ Note: Tensions between Iran and Israel can still have an impact on Bitcoin and other assets. If Israel wants to react to Iran's attacks, we should expect a further drop in Bitcoin, so in these days, more than ever, observe capital management.⚠️
 

 What is your idea about Bitcoin, more dump or, again, pump❗️❓ 

Bitcoin Analyze (BTCUSDT), 1-hour time frame⏰.

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

Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.

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