Bitcoin is moving near the Resistance zone($87,100_$85,800), the upper line of the Ascending Channel, and the Time Reversal Zone(TRZ).
In terms of Elliott Wave theory, Bitcoin appears to be completing microwave C of the main wave Y.
Also, we can see the Regular Divergence(RD-) between Consecutive Peaks.
I expect Bitcoin to start declining from the Resistance zone($87,100_$85,800) again, the first target could be $83,400 and the second target can be the CME Gap($80,760_$80,380) filling.
Note: If Bitcoin breaks the Resistance zone($87,100_$85,800) we can expect more pumps.
This analysis is in line with the following analysis that I shared with you on the weekly timeframe.👇
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Bitcoin Analyze (BTCUSDT), 1-hour time frame.
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