Bitcoin Scenarios for the Future Hours🧐
👋Hi, everyone.
🌐Today, I want to explain to you the possible scenarios for Bitcoin; during the last week and the beginning of the new year 2024, Bitcoin has been affected by the News, and we have seen Pumps and even Dumps, so before the SEC decision In the case of Bitcoin ETFs, it is better to trade a little more carefully. That's why I didn't consider Short or Long labels for this post.
🌐In general, ➕Positive News➕ about the approval of ETFs outweighs the ➖Negative News➖.
📚This positive news caused the Fear & Greed Index to re-enter the Extreme Greed zone(76) for the first time in 2/5 years. Of course, maybe you are Greedy too😊.
📈We can use technical analysis tools to analyze Bitcoin in the current situation to help us predict the future of Bitcoin.
⚔️Bitcoin is attacking the 🔴Heavy Resistance Zone($52,100-$45,800)🔴 for the second time.
🏃♂️If we look at the Bitcoin chart in the 1-hour time frame, we will find that Bitcoin has been moving in the Ascending Channel(Black) for about 7 days. However, on the daily time frame, Bitcoin is moving in an Ascending channel(Blue).
💡In terms of divergence, Regular Divergence(RD-)can be seen between successive peaks of Bitcoin, but Bitcoin has already proven that this type of Divergence is definitely NOT the reason for a return, and at least we can understand that soon Bitcoin will enter a correction (it is likely that Bitcoin will still With these divergences, the price will increase by about 20%.
🌊According to the theory of Elliott waves, Bitcoin seems to have completed one of its impulsive/correction waves above the lines of ascending channels and 🟡Potential Reversal Zone(PRZ)($48,180-$47,250)🟡. ⚠️I have two scenarios for the waves that I will share with you after the approval/disapproval of Bitcoin ETFs⚠️.
💡Before concluding, let's take a look at Market Cap BTC Dominance% (BTC.D%) and Market Cap USDT Dominance% (USDT.D%) charts.
🔸Market Cap BTC Dominance% (BTC.D%):
After the positive news about Bitcoin ETFs, investors started investing more in Bitcoin, causing BTC.D% to go up for days. Currently, BTC.D% is moving in the 🟡Potential Reversal Zone(PRZ)🟡and near the Resistance line, and I expect this investor greed to end in the 🟡Potential Reversal Zone(PRZ)🟡 or 🔴Heavy Resistance Zone(60%-%57)🔴. Then, we will see a decrease in the strength of Bitcoin in the cryptocurrency market. We can see this decrease in the strength of Bitcoin after the final news of the SEC subsides.
💡Tip: Until the return of BTC.D% is confirmed, it is better to invest less in Altcoins.👇
🔸Market Cap USDT Dominance% (USDT.D%):
USDT.D% is moving in the 🟢Heavy Support zone(5.80%-5.20%)🟢, and it is attacking this zone for the first time, I expect that even if bitcoin ETFs are confirmed, USDT.D% will NOT break the🟢Heavy Support zone(5.80%-5.20%)🟢 and the Support line at least for this attack and at least until the 🔴Resistance zone(6.70%-6.30%)🔴 starts to increase, because there is a possibility that even after the approval of Bitcoin ETFs, the cryptocurrency market will enter a correction.👇
🔔As a result, I expect Bitcoin to fall to the Fibonacci levels I marked on my chart in the coming hours ahead of the SEC approval/disapproval of Bitcoin ETFs. If it is confirmed, it will attack the upper lines of the ascending channels and 🟡PRZ🟡, and if it is not confirmed or even postponed in the vote, Bitcoin will lose the 🟢Support zone($44,800-$44,160)🟢 and ascending channel(Black).
❤️In the end, here is some advice for you as a little brother:
🔸TradingView website has provided us with a suitable space to transfer our analysis, so it is better to use it and not waste our time on destruction or ugly comments.
🔸If you have any comments, please share them with respect.
🔸No analysis is 100%, so if you use analysis as an investment, it is better to follow capital management and take responsibility for it yourself.
🔸Please don't look at the words of Celebrities about the price of Bitcoin and other Altcoins as an investment; check their past, and the truth will be clear(These days they are hot).
🔸I hope we can use TradingView to increase our capital and knowledge.
❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed.
Bitcoin Analyze ( BTCUSDT ), 1-hour time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
🌐Today, I want to explain to you the possible scenarios for Bitcoin; during the last week and the beginning of the new year 2024, Bitcoin has been affected by the News, and we have seen Pumps and even Dumps, so before the SEC decision In the case of Bitcoin ETFs, it is better to trade a little more carefully. That's why I didn't consider Short or Long labels for this post.
🌐In general, ➕Positive News➕ about the approval of ETFs outweighs the ➖Negative News➖.
📚This positive news caused the Fear & Greed Index to re-enter the Extreme Greed zone(76) for the first time in 2/5 years. Of course, maybe you are Greedy too😊.
📈We can use technical analysis tools to analyze Bitcoin in the current situation to help us predict the future of Bitcoin.
⚔️Bitcoin is attacking the 🔴Heavy Resistance Zone($52,100-$45,800)🔴 for the second time.
🏃♂️If we look at the Bitcoin chart in the 1-hour time frame, we will find that Bitcoin has been moving in the Ascending Channel(Black) for about 7 days. However, on the daily time frame, Bitcoin is moving in an Ascending channel(Blue).
💡In terms of divergence, Regular Divergence(RD-)can be seen between successive peaks of Bitcoin, but Bitcoin has already proven that this type of Divergence is definitely NOT the reason for a return, and at least we can understand that soon Bitcoin will enter a correction (it is likely that Bitcoin will still With these divergences, the price will increase by about 20%.
🌊According to the theory of Elliott waves, Bitcoin seems to have completed one of its impulsive/correction waves above the lines of ascending channels and 🟡Potential Reversal Zone(PRZ)($48,180-$47,250)🟡. ⚠️I have two scenarios for the waves that I will share with you after the approval/disapproval of Bitcoin ETFs⚠️.
💡Before concluding, let's take a look at Market Cap BTC Dominance% (BTC.D%) and Market Cap USDT Dominance% (USDT.D%) charts.
🔸Market Cap BTC Dominance% (BTC.D%):
After the positive news about Bitcoin ETFs, investors started investing more in Bitcoin, causing BTC.D% to go up for days. Currently, BTC.D% is moving in the 🟡Potential Reversal Zone(PRZ)🟡and near the Resistance line, and I expect this investor greed to end in the 🟡Potential Reversal Zone(PRZ)🟡 or 🔴Heavy Resistance Zone(60%-%57)🔴. Then, we will see a decrease in the strength of Bitcoin in the cryptocurrency market. We can see this decrease in the strength of Bitcoin after the final news of the SEC subsides.
💡Tip: Until the return of BTC.D% is confirmed, it is better to invest less in Altcoins.👇
🔸Market Cap USDT Dominance% (USDT.D%):
USDT.D% is moving in the 🟢Heavy Support zone(5.80%-5.20%)🟢, and it is attacking this zone for the first time, I expect that even if bitcoin ETFs are confirmed, USDT.D% will NOT break the🟢Heavy Support zone(5.80%-5.20%)🟢 and the Support line at least for this attack and at least until the 🔴Resistance zone(6.70%-6.30%)🔴 starts to increase, because there is a possibility that even after the approval of Bitcoin ETFs, the cryptocurrency market will enter a correction.👇
🔔As a result, I expect Bitcoin to fall to the Fibonacci levels I marked on my chart in the coming hours ahead of the SEC approval/disapproval of Bitcoin ETFs. If it is confirmed, it will attack the upper lines of the ascending channels and 🟡PRZ🟡, and if it is not confirmed or even postponed in the vote, Bitcoin will lose the 🟢Support zone($44,800-$44,160)🟢 and ascending channel(Black).
❤️In the end, here is some advice for you as a little brother:
🔸TradingView website has provided us with a suitable space to transfer our analysis, so it is better to use it and not waste our time on destruction or ugly comments.
🔸If you have any comments, please share them with respect.
🔸No analysis is 100%, so if you use analysis as an investment, it is better to follow capital management and take responsibility for it yourself.
🔸Please don't look at the words of Celebrities about the price of Bitcoin and other Altcoins as an investment; check their past, and the truth will be clear(These days they are hot).
🔸I hope we can use TradingView to increase our capital and knowledge.
❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed.
Bitcoin Analyze ( BTCUSDT ), 1-hour time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Trade active
Trade closed: target reached
Comment:
If Bitcoin loses the bottom of the ascending channel and the support zone, it will probably continue to fall until the next support zone.
Comment:
BREAKING: BITCOIN SPOT ETF APPROVED
Comment:
The PRZ is currently considered the first resistance zone for Bitcoin; although the CPI will be released today, the market may get a little excited again, so be careful.
Bitcoin began to pump on the news of the ETF's approval and then fell 6%.
At the same time, the news of SEC Twitter account hacking came.
The question here is whether Bitcoin started to fall with the news of the ETF approval(''Buy the rumor sell the News'') or with the news of the hacking of the SEC's Twitter account.
If Bitcoin started to fall with the confirmation of the Bitcoin ETF news, then we can conclude that if the Bitcoin ETF is actually confirmed, we will see such an movement in Bitcoin.
It is unlikely that Bitcoin started to fall with the news of the SEC Twitter hack, because nothing has happened in the cryptocurrency market that the news of the hack has changed the essence of the story, and the ETF is still waiting for confirmation.
If the ETF fails, we will see a sharp market drop.
In general, events like this are not good at all for the cryptocurrency market and reduce public confidence in this asset.
⚠️Please do not buy or sell according to this analysis, it is only an analysis and not an investment suggestion.⚠️
If you have any thoughts about the events of these few hours, share them with me.