BITCOIN Bull VS Bear
2024-11-05

📊 BTC/USDT - Daily Analysis 📊 

 🔴 Main Scenarios 

 📉 Bearish Scenario (Wave C) 

We are currently in corrective Wave C within a larger downtrend:

Rejection from the top suggests the completion of  Wave B  and the probable beginning of  Wave C .
If price breaks down to reach the  1.618  or  2.618  Fibonacci retracement levels, this would confirm the end of Wave B and initiate the main downtrend toward targets in the $44,000 - $37,000 range.
Key Bearish Targets:  $42,341.97  and  $39,039.61 .

 📈 Bullish Scenario (Ending Diagonal) 
In the bullish option, the current pattern might be forming an  Ending Diagonal: 

Price must hold the trendline support (a wick below is acceptable, but a strong breakdown would invalidate this).
BTC could continue upwards toward  0.61 - 0.7 Fibonacci levels , approximately at $ 70,300 -  $71,700 . Here, a potential rejection might test the trendline.
If  Wave 4  of the  ending diagonal  remains intact, we may see a final minor rally to a new  all-time high , targeting  $77,000 - $79,300  to mark the top.

 📉 Trading Strategy 
Risk-Reward (RR) for Short Positions:

Monitor a bounce from support up to the $70,300 - $71,700 zone as a potential short entry.
The intensity of the decline after rejection will indicate whether a bearish trend is underway or if this is simply a corrective Wave 4.

 🚫 Invalidation🚫 
Short positions would be invalidated if price breaks above the previous  all-time high. 

 📝 Conclusion📝 
BTC is at a critical level. If it rejects around  $70,300 - $71,700 , a continuation of the downtrend is expected. Confirmation would come with a break below the lower trendline, signaling a potential Ending Diagonal pattern. Alternatively, if BTC holds within the Ending Diagonal, another minor leg up toward  $77,000 - $79,300  could complete the bullish cycle before a possible decline toward  $44K - $37K. 

 Disclaimer: 
⚠️ This is not financial advice! All information provided is for educational purposes only. Always conduct your own research before making any investment decisions. Trading carries a high risk and may result in the loss of capital