Bitcoin Roadmap==>>Correction Signs
2024-11-09

Bitcoin ( BINANCE:BTCUSDT )is moving near the  Upper line of the Ascending Channel  and  Potential Reversal Zone(PRZ) , which acts as a  Resistance line .

According to the  Elliott wave theory ,  Bitcoin  has completed  main wave 5  with the help of  Ending Diagonal , and we should wait for  Corrective Waves .

 Note ( Education ): The  Ending Diagonal  is the  Rising Wedge Pattern  in terms of  Classic Technical Analysis .

Also,  Regular Divergence(RD-)  between  Consecutive Peaks  in  MACD  and  RSI  and  Volume Indicators .

 Note : Since  trading volume  is usually  low on Saturdays and Sundays , we can expect the  main corrective movement  to happen at the  beginning of the next week .

I expect  Bitcoin to have a corrective trend in the coming week , considering that there are attractive volumes for  liquidating long positions at lower prices , as well as the technical analysis that I talked about above. Of course, from  November 13 to November 15, important indexes  will be released from the  USA(Core CPI m/m, CPI m/m, CPI y/y, Core PPI m/m, PPI m/m, Unemployment Claims, Core Retail Sales m/m, Retail Sales m/m) , which can  impact Bitcoin's main trend .

 ⚠️Note: We can expect more pumps if Bitcoin breaks the Potential Reversal Zone(PRZ) ⚠️ 

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

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