Bitcoin - Complete plan for February (125K soon)
2025-01-30
Category: None

Bitcoin's price action is currently extremely bullish because the price broke out of the falling wedge pattern and 2x successfully retested it! There is really nothing bad about the price action, so we can expect higher prices in the coming days and weeks.

On the chart we can see 3 strong levels that you can use for your trading decisions. The first level is at 105,544 USDT (0.382 FIB and POC of the symmetrical triangle). This level will most likely be tested in the near future after a breakout. That means Bitcoin can pump to 110k and then come back and retest this level before continuing higher. The second level is 110,342 USD. This level is also very strong because it's the 0.618 FIB extension from wave 1 to wave 2. It's also above the previous all-time high, so we can expect a liquidity sweep above this swing high and then a short-term downtrend. The third level is at 118,109 USDT. This is also a significant level because we have a 1:1 FIB extension, and you may know that Bitcoin reacts pretty reliably to this extension. It's one of the best.

From the Elliott Wave perspective, the price action is also bullish. We have just finished the ABC correction with a 1:1 FIB extension, and we have started impulse wave 3. This wave 3 could end at the 1:1 FIB extension as well, but we need to wait for chart patterns, trendlines, and potentially RSI bearish divergence.

This is my primary plan for the next days and weeks. The secondary plan is that the ABC correction (wave 2) has not been completed, and it can transform into a WXYXZ triple three corrective wave.

Write a comment with your altcoin, and I will make an analysis for you in response. Also, please hit boost and follow for more ideas. Trading is not hard if you have a good coach! This is not a trade setup, as there is no stop-loss or profit target. I share my trades privately. Thank you, and I wish you successful trades!