$BTC Hey Binance family, buckle up! We're about to dive into some exciting Bitcoin (BTC) price action.
A Dip Before the Climb
Remember our earlier analysis where we predicted that BTC wouldn't complete its correction without dipping to around 89k? Well, it looks like we were right!
The Story of the Drop
A few days ago, BTC surged above 102k, causing a wave of optimism. But then, BAM! A sudden drop caught many traders off guard.
Why This Dip Was Expected
Let's take a look at the daily chart. After reaching the peak of wave 3, we entered a corrective wave 4. This wave 4 is a zigzag, consisting of sub-waves A, B, and C.
* Wave B ended precisely at the 0.618 Fibonacci level.
* Currently, we're in wave C of the correction.
* The minimum target for wave C is the 0.382 Fibonacci level, which aligns with the 89k price point.
The 89k Signal: Our Watch Point
We're expecting a signal at 89k to confirm that the correction is over and the next bull run towards 120k is about to begin.
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Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please do your own research before making any investment decisions.
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