Bitcoin Analysis and Trend Forecast:
Can Bitcoin Drop to ..... 94000
Dear followers, here is a summary of the technical and wave analysis of Bitcoin:
Current situation:
1. The price is fluctuating between major support at 95,268 and 94,665 and resistance at 97,500-98,000.
2. Indicators such as RSI and Stochastic RSI show positive momentum and the possibility of an upward rebound.
3. Trading volume is high, indicating strong buying interest.
Wave analysis:
Bitcoin is in a corrective wave. Breaking the resistance of 98,000 could push the price towards 99,200-100,000.
Failure to break could send the price back down to 94,000.
Suggested Strategy:
1. Buy: at support (95,268-94,665).
2. Take Profit: at resistance (97,500-98,000) or (99,200) if broken.
3. Stop Loss: below 94,000.
Conclusion: Bitcoin is showing signs of a short-term bounce, but the overall trend is still bearish. Trade with caution!
