📉 Bitcoin Analysis and Wedge Pattern
Bitcoin is nearing the end of a wedge pattern and the completion of wave 5 in the 1-hour timeframe. After this formation, a 3-wave correction is expected, bringing the price to a support zone around $72,750. This level holds significant technical importance and will likely attract buyers’ attention.
🔄 Buying Opportunity Post-Correction
The $72,750 range presents an excellent buying opportunity, as selling pressure is expected to ease, creating room for demand to increase and a potential price reversal.
🚀 Attractive Price Targets
Following this correction, Bitcoin could rise toward the attractive targets of $80,000 and $95,000. If buyer support holds strong, these levels could become key milestones in a potential medium-term uptrend.
💡 Risk Management
Due to market volatility, traders are advised to proceed with risk management and carefully crafted strategies to navigate these price movements effectively.
Bitcoin is nearing the end of a wedge pattern and the completion of wave 5 in the 1-hour timeframe. After this formation, a 3-wave correction is expected, bringing the price to a support zone around $72,750. This level holds significant technical importance and will likely attract buyers’ attention.
🔄 Buying Opportunity Post-Correction
The $72,750 range presents an excellent buying opportunity, as selling pressure is expected to ease, creating room for demand to increase and a potential price reversal.
🚀 Attractive Price Targets
Following this correction, Bitcoin could rise toward the attractive targets of $80,000 and $95,000. If buyer support holds strong, these levels could become key milestones in a potential medium-term uptrend.
💡 Risk Management
Due to market volatility, traders are advised to proceed with risk management and carefully crafted strategies to navigate these price movements effectively.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.