$SOL Bitcoin Update (BTC/USDT, 1H Chart) As anticipated, | Alex Atashkar sur Binance Square

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$SOL 
Bitcoin Update 
(BTC/USDT, 1H Chart)
As anticipated, Bitcoin has undergone a 4-hour correction, successfully breaking through the resistance at $70,400 while maintaining support between $69,000 and $69,500. It is currently aiming for a target of $72,300.

Avertissement : comprend des opinions de tiers. Il ne s’agit pas d’un conseil financier. Peut inclure du contenu sponsorisé. Consultez les CG.

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$BTC This is possibly the first significant move where Bitcoin has fallen behind the rise in gold prices. However, this gap is unlikely to persist, and Bitcoin is expected to move closer to gold’s growth starting Monday, despite the negative impact of ETF selling on its progress. Currently, Bitcoin is hovering above its daily and monthly support levels, completing the monthly correction phase within the second wave of the Elliott Wave theory (bearish wave). To initiate the upward third wave, the ongoing correction needs to be finalized, which could extend for more than three months. It is crucial to maintain the monthly support level throughout this period, so that Bitcoin can eventually navigate through the hourly, daily, and weekly timeframe and ABC corrections slowly. With the CME closed today and tomorrow, significant price movements are unlikely, but an intriguing Monday awaits. Key Support: 55,200 Key Resistance: 62,000

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$BTC As observed on the 4-hour chart, Sundays typically show low volatility for Bitcoin. The daily chart indicates that the previously broken resistance at 59,700 is now reestablishing itself as support on the 4-hour timeframe. If Bitcoin can hold this support, it is likely to move toward higher levels starting tomorrow. However, it is important to note that the 55,000 level has a significant hidden gap, which could result in a sharp drop to 55,000 before potentially rebounding above 60,000. Current support: 59,600 Current resistance: 62,000

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$BTC Bitcoin has lost its primary weekly support and is now hovering around the weekend support level of 59,800. It is highly likely that the 59,800 support will not hold, leading to a further decline towards the monthly support at 51,000. If the 59,800 level is breached, we can expect a sharp price drop. Additionally, geopolitical tensions in the Middle East, including the potential for conflict in Lebanon, combined with a significant drop in the American stock market, are exerting extra pressure on the cryptocurrency market. Contrary to the views of many analysts, I believe that from today until the end of August, the market will perform poorly, with the negative trend worsening around mid-month. Original support: 59,800 Current resistance: 66,500

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$BTC #BTC.USDT Bitcoin has broken through its initial weekly support with ease and is now resting on the main weekly support. It's important to note that there is a final support level at 58,700, which may be easily tested if the 61,300 level is breached. Thus, 61,300 is the key support level to prevent further declines. This support is considered on a monthly basis. It's highly probable that we will first see a move back to the 65,500 resistance. If rejected there, Bitcoin may continue towards completing the monthly correction. Main Support: 61,300 Current Resistance: 66,600 $BTC

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$BTC BTC has touched the daily 200 EMA before during a bull run. Many people think we're in a bear market again. Here's how it looked in 2016 and 2017. Imagine selling at those times.

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