Corrective Movement $BTC after hitting Key level $74,400
Hello Trader on Fire 🔥🔥🔥
It is truly surprising the movement of BTC during the crisis conditions of the US ISRAEL Vs IRAN war.
Technically $BTC One of the reasons for the potential rally highlighted over the past few weeks is that it aligns with the structural model we are following. After a three-wave decline, the market often produces a corrective rally before a broader correction continues. In this framework, the current movement may represent the wave B rally, which could ultimately form a lower high in the coming weeks before the market continues the necessary downward movement to complete the larger correction that began in October. This type of behavior is common, especially when the lowest point of wave A occurs in oversold conditions. Bitcoin has now reached the first major resistance near 74,400 USD. From here, it would not be surprising if there is a short-term weakening or consolidation.
#bitcoin #MarketRebound
STAY Spirit On Fire 🔥🔥🔥 and be cautious INVESTING and always DYOR
Hello Trader on Fire 🔥🔥🔥
It is truly surprising the movement of BTC during the crisis conditions of the US ISRAEL Vs IRAN war.
Technically $BTC One of the reasons for the potential rally highlighted over the past few weeks is that it aligns with the structural model we are following. After a three-wave decline, the market often produces a corrective rally before a broader correction continues. In this framework, the current movement may represent the wave B rally, which could ultimately form a lower high in the coming weeks before the market continues the necessary downward movement to complete the larger correction that began in October. This type of behavior is common, especially when the lowest point of wave A occurs in oversold conditions. Bitcoin has now reached the first major resistance near 74,400 USD. From here, it would not be surprising if there is a short-term weakening or consolidation.
#bitcoin #MarketRebound
STAY Spirit On Fire 🔥🔥🔥 and be cautious INVESTING and always DYOR