Bitcoin (BTC/USD): Period of Consolidation and Uncertainty
⚠️ Bitcoin (BTC/USD) Wave Analysis
Bitcoin is currently in a consolidation phase, trading within a wide horizontal range on the daily chart after a strong bullish rally.
- **Resistance Zone:** 106,027 - 109,582 (Aligns with the All-Time High resistance)
- **Support Zone:** 89,378 - 92,797
There are two possible scenarios based on price action at these key levels:
1. **Bullish Breakout:** A confirmed breakout and close above resistance could trigger another upward wave, targeting at least 120,040.
2. **Bearish Breakdown:** A break below support may indicate a corrective move.
It is advisable to wait for a decisive breakout before making trading decisions.
Bitcoin is currently in a consolidation phase, trading within a wide horizontal range on the daily chart after a strong bullish rally.
- **Resistance Zone:** 106,027 - 109,582 (Aligns with the All-Time High resistance)
- **Support Zone:** 89,378 - 92,797
There are two possible scenarios based on price action at these key levels:
1. **Bullish Breakout:** A confirmed breakout and close above resistance could trigger another upward wave, targeting at least 120,040.
2. **Bearish Breakdown:** A break below support may indicate a corrective move.
It is advisable to wait for a decisive breakout before making trading decisions.
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