BTCUSDT is moving near the Support zone ($95,000-$90,870) and 50_SMA(Daily), also Bitcoin managed to break the Descending Channel. Although the main Ascending Channel has been broken in the above time frame, I still expect the pullback to the main ascending channel to continue.
Regarding Elliott wave theory, Bitcoin seems to be completing microwave Y of the main wave 4.
I expect Bitcoin to rise to at least the ๐ฏTargets๐ฏ I have specified on the chart.
Note: If Bitcoin breaks below the Support zone($95,000-$93,500), there is a high probability that Bitcoin will go below $90,000.
Do not forget to put Stop loss for your positions (For every position you want to open).
Disclaimer:
The information provided here is intended for informational and educational purposes only. It does not constitute financial or investment advice. Always perform your own research before making any investment or trading decisions.
