❇️ BTC next Move 📊

The chart you’ve shared is an analysis of Bitcoin (BTC) against Tether (USDT) on a 1-hour timeframe. It appears to follow Elliott Wave Theory, a popular technical analysis tool used to predict market trends by identifying wave patterns.

The chart shows several labeled waves (1-5 and A-E), indicating different phases of price movement. The price is currently in a corrective wave labeled as “(b),” following an impulsive wave (5). The projected movement suggests that the price will rise slightly to around 65,000 USDT before undergoing a significant decline. The highlighted yellow box likely represents a key resistance zone where the price may reverse or face selling pressure.

An “invalid” level is marked around 70,000 USDT, implying that the bearish scenario would be negated if the price exceeds this level. The pink line indicates the expected future price path, suggesting a downward trend below 57,000 USDT after the minor peak.

This analysis suggests a potential bearish outlook for Bitcoin in the near term, with significant resistance near the 65,000 USDT level.

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