Bitcoin Roadmap!!!==>>Falling!!!
2024-10-16

Bitcoin  (  BINANCE:BTCUSDT  )is currently hovering near the  Resistance zone($70,080-$68,250) ,  Potential Reversal Zone(PRZ) ,  the Upper line of the Ascending Channel , and  Important Resistance lines(Bitcoin is attacking important resistance lines for the fifth time.) .

According to  Elliott's wave  theory,  Bitcoin  seems to be completing the  main wave 5 . The structure of the  main wave 5  can be  Ending Diagonal .

Also,  Regular Divergence (RD-)  between  Consecutive Peaks .

I expect Bitcoin to  fail  again on the  5th attack  to the  important resistance lines , and to break the  lower line  of the descending channel and decline to at least the  first target  on my chart. We should expect  more Bitcoin dumps  if Bitcoin loses the  Support zone($66,500-$64,480) .

 ⚠️Note: Tension between Iran and Israel could increase in the coming days, causing a sharp drop in Bitcoin.⚠️ 

 ⚠️Note: Open interest in futures markets has reached its highest level in 2024, while Volume Trading has decreased.⚠️ 

 ⚠️Note: If Bitcoin can break the Resistance zone($70,080-$68,250) and Resistance lines, we should wait for a new All-Time High(ATH) for Bitcoin.⚠️ 

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

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