Bitcoin(BTCUSDT) is moving near the Important Resistance lines (Bitcoin is attacking important resistance lines for the fifth time) in the Resistance zone($70,080- $68,250).
According to Elliott's wave theory, Bitcoin seems to be completing the main wave 5 in the small ascending channel.
Also, Regular Divergence (RD-) between Consecutive Peaks.
I expect Bitcoin to fail again after breaking the lower lines of the ascending channels (small and big) and then fill the first CME Gap($67,250- $67,050).
â ïžNote: The formation of the Bull Trap is probably high.â ïž
â ïžNote: If Bitcoin can break the Resistance zone($70,080-$68,250) and Resistance lines, we should wait for a new All-Time High(ATH) for Bitcoin.â ïž
Bitcoin Analyze (BTCUSDT), 1-hour time frameâ°.
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