BTC/USD : Entering the Correction Wave – What’s Next?

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Wave Analysis : Bitcoin appears to be transitioning into a correction wave as part of its third Elliott wave, a natural phase following the recent bullish momentum.

Predicted Correction Zone :
Expected range : $75,000 to $80,000.

This aligns with historical Fibonacci retracement levels, suggesting a healthy consolidation before the next potential leg up.

Key Support & Resistance Levels :
Support : Immediate support lies near $75,000, marking a critical level to prevent further downside.

Resistance : A breakout above $80,000 could invalidate the corrective scenario and signal renewed bullish momentum.

Market Sentiment : Despite this correction phase, BTC's macro outlook remains strong, with higher lows forming a foundation for sustained growth.

Pro-Tip for Investors :
Monitor Entry Points : Use the $75,000-$80,000 range to accumulate during the correction phase.

Focus on Volume : Watch for increasing buy volume near support levels as an indicator of reversal.

Set Stop Losses : Protect downside risk by placing stops slightly below $74,000.

Conclusion :
Bitcoin's corrective wave signals a potential buying opportunity within the $75,000-$80,000 zone. Maintaining a disciplined, long-term strategy could prove fruitful as BTC prepares for its next major move.

Next week, Bitcoin prices are expected to rise, potentially reaching a range between $74,375 and $82,225 in October 2024. This increase follows historical trends where October, often referred to as "Uptober," has seen significant gains in previous years. While Bitcoin is currently trading around $60,000, market sentiment remains bullish due to recent developments like the halving event earlier this year, which typically leads to price surges later in the year.#BTCUSDTUPDATE
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**BTC/USD: Eyes on Key Levels 📈**

Bitcoin ($BTC ) continues to consolidate near key support at $35,000, with resistance around $38,000. Traders are watching closely for a breakout as market sentiment improves with rising institutional interest.

Will $BTC regain momentum and push toward $40K, or is another correction on the horizon? Stay prepared for volatility as the market heats up!

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