Alikze »» BTC | Next move scenarios

According to the analysis presented in the weekly time frame, Bitcoin registered a new ATH and is currently facing selling pressure in the lower time frame. Three movement scenarios can be considered for the next movements of Bitcoin.

🔰The first scenario: if it is not able to break this ceiling in the weekly or daily time, it can continue its growth with a pullback to Fibo 0.78, the range of $50,000 and confirmation of the return to Fibo 1.618 and the next supply area.

🔰The second scenario: with the failure of the current area, it will grow up to the Fibo 1.618 range of $75,000 and continue its growth with a pullback to the previous major ceiling until the supply area.

🔰Third scenario: if it enters the correction phase and if it breaks the 0.78 fibo, this correction will continue and probably touch the 1.272 fibo of the previous wave.

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Comment:

Currently, with the breaking of the range according to the predicted scenarios, the second scenario is being realized, which will have the ability to grow up to the Fibo range of 1.618.
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Comment:

It is moving according to the predicted movement path.

Comment:

With Mr. Powell's speech last night (inflation reduction and the possibility of interest rate reduction), the market has reacted as expected due to anticipating the negatives. The dollar index showed a negative reaction in the red box area, and Bitcoin has broken the red box now, but now it has stabilized, it can touch the next targets.

Comment:

In time 4h, according to the complex movement structure of the correction and its completion in the region of 60764, this recent motivational movement towards resistance and its correction in the form of a three-wave should be considered as completed, and this time, the ability to break the resistance range should be considered. have a target Therefore, it will most likely not have a new floor.
If the behavior and structure of the post changes, it will be updated.

Comment:

According to the presented analysis, no new bottom was made and currently the supply area is breaking upwards.

Comment:

In continuation of the previously drawn movement path, it is located around the specified target. Currently, according to the formed corner pattern, it can have two movement paths, the first possible path or scenario is correction up to 62500 areas and then the green box. The second scenario can break this pattern and continue this climb up to the 1.618 area.

Comment:

According to the presented analysis of the first scenario, this failure occurred from the bottom, which is in wave C of the collapse.

Comment:

According to the analysis, after the last ascending log E and the failure of the dynamic trigger support, the correction is being carried out, and this correction will have the ability to reach the green box after touching the 62500 range according to the base of the triangle.

Comment:

According to the possible scenario that is being corrected, this reversal could be a pullback to a broken structure...

Comment:

According to the direction of movement and the inability to break the supply zone is being corrected, and due to the weakness of the trend and the reduction of the validity of the support level, we should wait for the failure of the current zone for the next correction zone.
If the behavior and structure of the post changes, it will be updated.

Comment:

According to the movement path, it is reaching the support zone.

Comment:

It is moving in a descending channel. According to the previous analysis, it is currently in the midline of this channel, which will still have the ability to reach the bottom of the channel and the range of the green support box.