Bitcoin Chart Analysis for Today
Three scenarios are anticipated:
1. $60,650 is seen as the first impulse wave -> followed by an ABC correction -> the 3-1 wave seems to finish around $64,000. After a correction, if the price does not break below $57,500, a significant rally is expected.
2. Similar to the first scenario, but the wave rises through an ABCDE pattern. The subsequent correction and rise remain the same.
3. An impulse has been formed up to $61,200. If it doesnât drop below $57,500, a major rally is also expected in this case.
The key takeaway from this chart analysis is that the $57,500 level is critical in all the scenarios. As long as this level holds, we can anticipate a major rise based on several common factors.
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