Hi friends,

In this article I will explain clearly why I trade a short position $BTC at 95k1 last night.
Analysis in high time frame 4h:

Based on the Elliott Wave Theory - The Ending Diagonal Wave: that's forecasting for the ending of impulsive wave (from Nov 21 to Dec 17, 2024)), that's mean the trend can reverse to the corrrective move. I marked i, ii, iii, iv and v in the image below.
After that, for the Corrective move, the price of BTC needs to make a move with 3 waves abc, and in this case, it's maybe finished wave b then continue running wave c - the last wave of corrective move. The fibonancci of wave c often reach the 61.8%, 78,6% or 100% of wave a.

Analysis in lower time frame 1h:

For the corrective wave, in this timeframe, inside the wave (C), I saw the corrective channel (grey), so when this channel reach the resistant trendline, I focusing on the Price Action Candle and waiting the pattern complete to confirm for this short trade.

If you think this article is helpful, please give a reaction 😀 Don't hesitate if you have any question. See you in the next article.

#BTCUSDT.P #short_sell

BTC's Sharp Rise: What Happened and What to Expect?

On the fifteen-minute BTC/USDT chart, we see a sharp jump in the Bitcoin rate to $96,902 (+1.21%). Let's figure out what could have caused it:

1. Large Investment: It is likely that one or more large players made purchases, causing the price to rise rapidly.