From Bear Trap to Breakout: Bitcoin Roadmap
2025-01-14
Category: None

Bitcoin ( BINANCE:BTCUSDT ) started to rise again( with a high momentum )
 yesterday after  failing  to break the  Heavy Support zone($93,400-$90,000) ( Bear Trap  formation). 

 Educational Tip: Its quick return after exiting the Heavy Support zone($93,400-$90,000) with high volume was one of the signs of a bear trap.
 

Regarding  Elliott wave theory , it seems  Bitcoin  successfully completed a  Zigzag Correction(ABC/5-3-5)  yesterday and is currently completing the next  five impulsive waves . Likely,  Bitcoin is still in correction waves .

I expect  Bitcoin  to  start correcting from the Resistance zone($100,000-$98,080) ,  50_SMA(Daily) , and  Monthly Pivot Point  and start to rise again from the  Potential Reversal Zone(PRZ)  and attack the  Resistance zone($100,000-$98,080) .

 ⚠️Note: If Bitcoin breaks the Heavy Support zone($93,400-$90,000), we should expect a fall with high momentum (it is unlikely that another Bear Trap will be created).
 

 ⚠️Note: If Bitcoin goes below the Potential Reversal Zone(PRZ) , there is a high possibility that Bitcoin will break the Heavy Support zone($93,400-$90,000). 

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

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