Bitcoin Analysis (93K, weekly timeframe):
1. Price angles:
Bitcoin reached 105K (end of the weekly cycle), correcting to 84K (quarter of the cycle and end of the daily). The 84K level is critical for the trend. Closing the week below will indicate weakness.
2. Price channels:
From the "covid bottom", Bitcoin has been moving in a channel, tested the middle line (50K, 180° angle). A test of the upper border (84K) is expected, but closing below is unacceptable for growth.
3. Wave analysis:
Bitcoin has completed 5 waves, a divergence is forming (MACD, RSI). The correction will likely take the form of ABC:
Wave A (three movements).
An "altseason" is possible during A and B.
Wave C - market decline.
The formation is not yet clear, more time is needed.
Critical levels:
The growth will continue only if 105k is broken (target: 120k, "cup with handle"). If Bitcoin dominance drops to 48% and the price remains below 105k, it is better to exit the market.
Advice: Don't be greedy, take profits when necessary.