Bitcoin is now 97 thousand
It is considered a retracement area, God willing.
The drop in Bitcoin is in a three-wave movement in all Bitcoin corrections on the weekly frame with a drop percentage of 30% from the highest level in all corrections of this cycle.
Now the drop percentage is 25% from the highest level.
The chart is on a weekly frame and is inside an upward channel and has reached the lower limit of the channel, which is considered support.
The signal for the end of the correction is a breakout of 109 thousand and a weekly trading close to confirm the direction, God willing.
- In summary, we are waiting for a retracement wave to the range of 102 to 105 thousand, God willing.
Will it continue to rise afterward or not? This is too early to tell now, and we will update when reaching the testing areas and the shape and pattern and momentum of the rise at that time will clarify the picture more.
- The advice I can give now is to keep your nerves calm and set a rational plan and goals for your coins and stick to them. Now try to reduce the number of your coins and focus on three or four at most, and the opportunity now is that most coins are dropping by almost the same percentages. You might reassess your coins and their performance, filter them, develop them, and swap positions on coins with better quality. It is preferable that their last rise before the correction is a five-wave rise on the hourly frame and maintaining the bottom of their rise,
and they should be listed on major platforms like Binance and Coinbase.
And God knows best.
