Bitcoin is currently moving near the Resistance zone($62,860-$62,110) and 21_SMA(Weekly) and 200_SMA(Daily).
According to the Elliott wave theory, Bitcoin seems to be completing main wave 4. The structure of the main wave 4 appears to be an Expanding Flat Correction(ABC/3-3-5).
I expect Bitcoin to break down to the Support zone($60,000-$59,100) once again.
â ïžNote: Considering that the Trading Volume is usually low on Saturday and Sunday, it is more reasonable to expect the Support zone($60,000-$59,100) to break at the beginning of next week. Of course, the tension between Iran and Israel can change the scenario at any moment, and the support zone will be broken.â ïž
â ïžNote: If Bitcoin breaks the Resistance zone($62,860-$62,110) and 21_SMA(Weekly), we can expect the BTC pump to near $65,000.â ïž
Bitcoin Analyze (BTCUSDT), 4-hour time frameâ°.
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