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    Home»Technical analysis»Bitcoin – Plan for the next week (this is going to happen)
    Technical analysis

    Bitcoin – Plan for the next week (this is going to happen)

    By TolbertiMay 26, 2023No Comments
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    • Bitcoin is bearish, and the next support is around 25k, which is a strong horizontal line from August 2022 to February 2023. I expect a small bounce from this zone, and we should see bullish price action back to 27k.
    • Precisely, 25224 is the 0.618 FIB extension support on the LOG scale, and previous wave 1 resistances are 26942 and 27235.
    • It’s the gameplay for the next week or two, and this is what I am expecting from Bitcoin. This time this is a short-term analysis, as I do analyses on Bitcoin on all timeframes.
    • We can clearly see that the price action on Bitcoin is pretty choppy, and I expect this to continue. Of course, a big red dildo is possible, but in my opinion, a green one is not. I am bearish, and I expect 15k this year.
    • This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately.
    • From the Elliott Wave perspective, I am missing a final wave (5) to complete wave 3 of the higher degree. This is, of course, a bearish version of my Elliott Wave count.
    • There are tons of opportunities on altcoins, so I trade mainly them. For example, ARPA is a good coin to trade on an intraday or swing basis because the volatility is pretty huge, and volatility = opportunity.
    • After Bitcoin reaches 25224, which will be hit sooner or later, I expect a pullback to 26942 – 27325.
    • The next FOMC meeting is on Wed, Jun 14 where will be released a decision for the interest rates in the USA. Big volatility is ahead.
    • Thank you, and for more ideas, hit “Like” and “Follow”!
    • https://www.tradingview.com/chart/BTCUSDT/VJO0EMk0-Bitcoin-Plan-for-the-next-week-this-is-going-to-happen/

     

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