Bitcoin and Altcoin Market Analysis: Current Wave 4 Correction and future expectations
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We have been witnessing a significant selloff in Bitcoin and most Altcoins. Wave 4 corrections are often difficult to track, but it appears that Bitcoin may have bottomed out.
What's Next?
First, I'm watching to see if Bitcoin will break the current resistance at $61,013.40. If it breaks this level, we can expect some consolidation above it, followed by a retest back to the order block before potentially rallying to $69,042.44. However, we have key resistance levels at $65,410.69 and $70,078.12 to watch closely.
Words of Encouragement
What's happening to Bitcoin and the entire crypto market is normal. Markets never move straight up or down; corrections are necessary for higher expansions. This is how market structure works. Currently, we are in a Wave 4 correction, which means the most impulsive bullish Wave 5 is still unfolding.
Stay tuned for the uptrend yet to come.
