BehDark (EN)
Honestly, as you know, the market had been ranging for several days without much movement. On the chart, we had signs of a drop, but the drop didn’t happen, and instead the market dropped in a way that was shown.
The key level for Bitcoin is the 117K zone, where we may see a negative reaction. It is expected that Bitcoin will advance toward the red zone for now.
This market is a dangerous one, and it is necessary to avoid unnecessary trades.
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BehDark (EN)
After the drop and hitting the marked green zone, the price pumped over 34% and TP1 was hit.
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BehDark (EN)
Finally, it reached the red box. From this box, or with a hunt of this box, the price may get rejected to lower levels.
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BehDark (EN)
This move happened and the price surged more than 11%, reaching the first supply.
We expect a price rejection from either the first or the second supply.
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We have a major downtrend on Tether dominance. When we see strong downtrends, every upward correction should be monitored carefully, because once the correction trendline breaks, it can be a signal for the continuation of the larger downtrend.
Right now, the corrective upward trendline has been broken, no higher highs have formed, and we see bearish CHs on the chart.
Price can pull back toward the flip zone and then drop again to lower levels, even toward the green area.
This means we must be cautious with our short sell positions, because Bitcoin and Ethereum may register new all-time highs!
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BehDark (EN)
Based on the price structure, which has formed a bullish trend through small corrections, and also the lack of rejection from the resistances that have just been tested, along with a bullish CH and the formation of a supportive trendline, it is expected that Bitcoin will move close to its ATH or register a new ATH, and then enter a correction phase.
Considering the Tether dominance chart we published a few minutes ago, we expect Bitcoin to remain bullish until it reaches the specified red zone.
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BehDark (EN)
Still Valid
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BehDark (EN)
After a %20 drop
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From the point marked START on the chart, the correction of XCN seems to have begun.
Based on the wave structure, the price now appears to be in a complex ABC. Wave B of B looks like a diametric, and we are currently in the middle of wave F.
Once wave g of this diametric is completed, we can enter a position within the green zones, which represent our entry areas.
The closing of a daily candle below the invalidation level will invalidate this analysis.
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A supply zone has been highlighted on the chart. This supply has been consumed many times, yet no lower low has been formed. Also, from the point where we marked it on the chart, a bullish move started. After this bullish move, the price is currently forming a range. It seems that the initial move is wave A of the new pattern, and the ranging move is wave B.
As long as the green zone holds, the price can move toward the targets. Once the trigger line is broken, we will have further confirmations.
A daily candle closing below the invalidation level will invalidate this analysis
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ENA is one of the symbols that has rallied strongly and has now reached strong resistance zones. A bearish 3D formation is visible on the chart, and momentum has dropped significantly, which may indicate the start of a bearish trend for ENA.
Currently, it is near a weak support that may cause temporary pullbacks to the upside, providing opportunities to open sell/short positions. One entry can be taken on a pullback upward, and another if the price reaches the red SWAP zone.
The target can be the green box area.
A daily candle closing above the invalidation level will invalidate this outlook.
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BehDark (EN)
Not much time has passed since the analysis, and the price has pumped more than 16%
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BehDark (EN)
After hitting our Entry 1, it pumped over 81% and our first target was reached
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BehDark (EN)
Given the loss of the trendline, Bitcoin stalling, and decreasing momentum, the previous Bitcoin analysis needed to be updated.
If Bitcoin fails to make a valid breakout above the yellow line at $116,520 and does not sustain above it, a bearish scenario will emerge, and the price will drop significantly 🩸
A bullish outlook toward the supply zone shown on the chart above is only valid if Bitcoin executes a confirmed breakout above $116,520.
So stay alert and follow the chart closely.
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BehDark (EN)
We talked about the bloody scenario.
. We correctly warned and the bearish signals on the chart were confirmed. It dropped more than 3%
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BehDark (EN)
This view was correct, and the price dropped more than 16%
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From the point marked as Start on the chart, it seemed that a bullish phase had begun on Bitcoin. This bullish phase formed a triangle, and now we are at the end of this triangle.
With a pullback to the red zone, a further drop could occur. The main target of this bearish move appears to be the 88K channel.
This view remains valid unless a daily candle closes above the invalidation level.
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We tried to show the waves from a larger perspective so you can have a better understanding of the path.
It seems that wave "B" of the higher-degree correction has been completed (wave B was a bullish phase), and now we are entering wave "C", which is bearish at a higher degree.
With the price pulling back toward the red zone, we can look for sell/short positions.
On the chart, there is a liquidity pool marked with "$$$", and the first target of this bearish move is to sweep that liquidity pool.
A daily candle closing above the invalidation level will invalidate this analysis.
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First of all, you should know that this is a low market cap and highly volatile coin. Manage your position size and leverage carefully; otherwise, you may face a big loss.
It seems to be completing a bearish triangle, and we are currently in wave D. If the price finds support again and moves upward to complete wave E, we can look for sell/short positions at the entry levels.
The targets are marked on the chart.
A daily candle closing above the invalidation level will invalidate this analysis.
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