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EMA:
Technical Analysis
Elliott Wave Theory
The chart shows a completed corrective ABC structure:
Wave (c) concluded near $75,000, which may act as a key support level.
A new upward impulse could form if Bitcoin breaks above $90,000.
Short-Term Strategy
Monitor the $85,000 level (EMA 38):
A sustained move above this level could justify entering long positions targeting $90,000.
Set a stop-loss below $80,000 to minimize risks.
If Bitcoin breaks $90,000:
This would confirm the start of a new upward impulse.
Targets: $100,000 and beyond.
Medium-Term Strategy
Wait for a breakout above EMA 162 ($86,600):
A price consolidation above this line would be a strong signal for continued growth.
Consider holding positions until levels of $110,000–$120,000.
If the price drops below $75,000:
This would confirm the continuation of the bearish trend.
Consider short positions targeting $65,000.
Support and Resistance Levels
Support: $75,000 and $80,000.
Resistance: $85,000 (EMA 38), $90,000, and $100,000.
Conclusion
Bitcoin is in a transitional phase between correction and the potential start of a new bullish cycle. Key levels to watch are EMA 38 ($85,000) and EMA 162 ($86,600). Traders are advised to act cautiously and use stop-loss orders to protect capital while monitoring critical breakout points.
EMA:
Technical Analysis
Elliott Wave Theory
The chart shows a completed corrective ABC structure:
Wave (c) concluded near $75,000, which may act as a key support level.
A new upward impulse could form if Bitcoin breaks above $90,000.
Short-Term Strategy
Monitor the $85,000 level (EMA 38):
A sustained move above this level could justify entering long positions targeting $90,000.
Set a stop-loss below $80,000 to minimize risks.
If Bitcoin breaks $90,000:
This would confirm the start of a new upward impulse.
Targets: $100,000 and beyond.
Medium-Term Strategy
Wait for a breakout above EMA 162 ($86,600):
A price consolidation above this line would be a strong signal for continued growth.
Consider holding positions until levels of $110,000–$120,000.
If the price drops below $75,000:
This would confirm the continuation of the bearish trend.
Consider short positions targeting $65,000.
Support and Resistance Levels
Support: $75,000 and $80,000.
Resistance: $85,000 (EMA 38), $90,000, and $100,000.
Conclusion
Bitcoin is in a transitional phase between correction and the potential start of a new bullish cycle. Key levels to watch are EMA 38 ($85,000) and EMA 162 ($86,600). Traders are advised to act cautiously and use stop-loss orders to protect capital while monitoring critical breakout points.
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.