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.
