🐝Yo, it's rough seeing Bitcoin and the entire crypto market taking a dive! Right now it's #SPX season, and "easier to extend." BTC needs to flex some muscles to grab attention and rev up! It's looking pretty gloomy, no sugarcoating it. There's still room to fall, so I'm just waiting until key buying targets are reached or invalidated.
Main support at $63,000-62,000. Bullish gotta hold this level, or else Bitcoin might "teleport" to $56,000. On the upside, alts seem to have hit rock bottom. ETH holding at $3,500 support, while BTC keeps hitting new lows 📉
Major alts like #SOL, #DOGE, #TON, and others hit crucial support levels and are still holding above them.
⚡I ain't bearish on the market as long as we stay above $62,000. A fakeout below this level is always a possibility, but I see it as a perfect buying opportunity.
📊NEUTRAL: $BTC (1H)
Current Price $64334.00
Market Cap $1266.74B
Change 1h +0.17% | 24h +0.96%
Hourly Indicators:
• RSI: 50 - Neutral 🟠
• MACD: -1 - Bearish 🔴
• EMA: 64316 - Above 🟢
Analysis:
Bitcoin Elliott wave analysis suggests taking an open-minded approach to the current price action. The chart hints at a potential impulsive wave, showing either a sideways combination pattern or a fresh impulse wave forming. Keep an eye out for a simple corrective pattern to complete the structure, which started on March 13th.
Price Targets:
Based on the current wave patterns, expect resistance around $68,000. If the price breaks above this level, it could target $72,000 next. On the downside, major support levels can be seen near $64,313 and $62,500. Watch these levels closely for potential trend reversals.
