Technical analysis by TSFC about Symbol BTC on 9/9/2024

Before looking at the local perspective, we would like to mention that globally we are now moving within two main patterns: AMEXP on ETHBTC dated July 29👇 And the pattern on BTCUSD , which we first recognized as MDB on the daily timeframe dated May 21 and later formed as EXP on the weekly timeframe and essentially describes the current trend 👇 Our expectations are now based on the fact that on ETHBTC we see a key magnetic level at 0.03492, which we will reach with a high probability (we have marked this block with a red square on the chart). We also note that CME also opened with a GEP at $52,980, and BTC1! has two nearest open GEPs: at $61,880 and $52,980👇 Locally, we now see three main scenarios: 1️⃣ BTCUSD reaches the $56,552 level, after which it continues to decline with a target of $48,973 2️⃣ BTCUSD does not reach the level of $56,552 and continues its decline with a target of $48,973. 3️⃣ BTCUSD reaches the level of $56,552 and continues to move towards $61,700. Now you have an open long on BTCUSD and over the weekend we opened a hedging short on ETHUSD for a portion of the BTCUSD position, and now in the case of each scenario: 1️⃣ BTCUSD close half on the first target around $56,552 and put the stop to breakeven, then on the downside close the profitable hedge short 2️⃣ Around $48,973 close the hedge-short on ETHUSD on the fall and buy more BTCUSD 3️⃣ Close BTCUSD position on all targets, part of the profit is taken by a losing hedge-short on $INDEX:ETHUSD. Thus, in the current market situation we have formed such a construction, which will allow us to earn in most of our expected scenarios