Bitcoin is Ready to Fall Below $90,000!!!Reasons!!!
2025-01-07
Category: None

As I expected in the last few posts,  Bitcoin ( BINANCE:BTCUSDT ) seems to have started a  major correction .

Please be with me.

First, let's take a look at the  weekly chart analysis  that I shared with you on  November 12, 2024 , which almost gave you an  All-Time High(ATH)  in both  time and price .


Let's examine the  Bitcoin  chart on the  4-hour time frame  in terms of  Classic Technical Analysis .  Bitcoin  seems to be  forming the right shoulder  of the  Head and Shoulders Pattern . So that in terms of the  validity of this pattern , the  following two points  can be pointed out:

1- During the time when the right shoulder reached $104,000, it was 8 days and 4 hours that the right shoulder was not able to reach $104,000 during this period, and this shows the weakness of buyers or the strength of sellers along the path of the right shoulder. 

2- Regular Divergence(RD-) between the right and left shoulders between the price and the volume indicator. 

In terms of  Elliott wave theory , Bitcoin, over the  past 18 days , seems to be forming an  Expanding Flat(ABC/3-3-5)  corrective pattern, with the  main wave C ending  at  $102,725 . ( I mentioned this in the update of yesterday's post ).

If we look at the chart of  USDT.D% ( CRYPTOCAP:USDT.D ), as I said in the  update of yesterday's post , we should have waited for the  increase of USDT.D%  (due to the sensitive position it was in). I expect  USDT.D%  to attack the  upper line of the descending channel soon .


I expect  Bitcoin  to attack the  Heavy Support zone($93,400-$90,000)  and the  neckline  of the  Head and Shoulders Pattern  soon, and if it breaks, we should expect  Bitcoin  to drop to the  Potential Reversal Zone(PRZ) ,  Support line s and  100_SMA(Daily)  and then  Bitcoin  can fill the  CME Gap($80,670-$77,100) .

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

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