khmammed

FLMUSD flamingo token is brok first resistance and we can see next level of resistance in pitchfork

BTCUSDT : Based on the current Elliott Wave structure and Fibonacci retracement analysis, Bitcoin (BTC) appears poised for a corrective move toward key Fibonacci levels of 1.618 and 2.618 minor retracements . The recent impulsive wave (likely Wave 3 or Wave 5) suggests that BTC has completed a strong upward momentum phase, which often precedes a corrective period. According to Elliott Wave Theory, corrections typically retrace a significant portion of the preceding impulse wave, with Fibonacci extensions acting as potential targets. In this case, the 1.618 Fibonacci extension represents the first major support level where BTC could stabilize during its correction, while the deeper 2.618 retracement may act as a secondary target if selling pressure intensifies. Traders should monitor these levels closely, as they are likely to serve as zones of consolidation or reversal, depending on market sentiment and broader macroeconomic factors. Additionally, confirmation from volume patterns and technical indicators like RSI or MACD will be critical in determining whether BTC establishes a new base at these levels or continues its downward trajectory.this analysis is based on the last major analysis :

BTCUSDT After this strong bearish movement, we can clearly see that BTC is in a downtrend. Based on Elliott waves, BTC is currently in the five-wave retracement. But what’s next? Will BTC rally to 50-40, or will it regain strength after this bearish move? In my opinion, after completing the five-wave pattern, it might enter a long-term corrective phase.

This setup idea is not finished yet, but the trade is already running. The first target is the 0.618 Fibonacci level. I will update this setup later.FunToken has not yet achieved its market capitalization of $51M. It is currently around 26M, so there is still plenty of opportunity to jump in

If Bitcoin (BTC) is in a downtrend, the formation of an Elliott Wave (EW) pattern typically follows a five-wave impulse structure (1-2-3-4-5) in the direction of the trend. Here’s a breakdown of how it forms in a bearish market:Elliott Wave Formation in a DowntrendWave 1 (Initial Decline) – The first wave marks the beginning of the downtrend as sellers take control. This move is often sharp, driven by profit-taking or early signs of weakness.Wave 2 (Retracement) – A corrective wave where price recovers slightly but fails to make a new high. This is typically a Fibonacci retracement (38.2% to 61.8%) of Wave 1.Wave 3 (Strong Downtrend) – The most aggressive and extended wave, often fueled by strong selling pressure and panic. This wave typically extends 1.618x or more of Wave 1.Wave 4 (Consolidation/Pullback) – A corrective move where the price stabilizes, often forming a flag or wedge pattern. It usually retraces 23.6% to 38.2% of Wave 3.Wave 5 (Final Drop) – The last push down, often accompanied by decreasing volume and divergence in indicators (e.g., RSI or MACD). After this wave, a corrective ABC pattern may follow.Trading ConsiderationsShort Entry: Look for entries after Wave 2 retracement, aiming to catch Wave 3.Profit-Taking: Secure profits near the end of Wave 5, where reversal signals appear.Confirmation: Use Fibonacci levels, trendlines, and volume analysis to validate wave formations.Would you like a chart example or a more detailed trade setup for BTC’s Elliott Wave in a downtrend?