Bitcoin Analysis and Wedge Pattern
Bitcoin is nearing the end of a wedge pattern and the completion of wave 5 in the 1-hour timeframe. After this formation, a 3-wave correction is expected, bringing the price to a support zone around 72,750. This level holds significant technical importance and will likely attract buyers’ attention.
🔄 Buying Opportunity Post-Correction
The 72,750 range presents an excellent buying opportunity, as selling pressure is expected to ease, creating room for demand to increase and a potential price reversal.
🚀 Attractive Price Targets
Following this correction, Bitcoin could rise toward the attractive targets of 80,000 and 95,000. If buyer support holds strong, these levels could become key milestones in a potential medium-term uptrend.
💡 Risk Management
Due to market volatility, traders are advised to proceed with risk management and carefully crafted strategies to navigate these price movements effectively.
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⚠️Things can change...
The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!