Bitcoin $10K Swings Elliott and Key SR Zones. If you find this information inspiring/helpful, please consider a boost and follow! Any questions or comments, please leave a comment!
Bitcoin has continued to stay volitile, posting two more $10K+ daily moves. The market has been highly news reactive, with significant swings in both directions.
After testing $93K, price held and has since moved back to the $102K area, a level that has been a key point of interest. The focus now is on whether this level will play as resistance for the wave 3 and return to the 99k area for possible base before continuation or if further retracement is needed before the next move.
Wave 4 Development
From an Elliott Wave perspective, a potential wave 4 retracement is in play, with $99K- GETTEX:98K acting as a key support zone. Holding above this range could set the stage for another leg up. So staying vigilant for a corrective pattern above or to this level.
Key Levels to Watch
$102K and $99K – Significant areas for market structure.
$106K – A level that remains on the radar for further upside.
Long positions from $105.6K and $93.8K provide some flexibility to observe price action and adjust accordingly.
The market remains dynamic, and adapting to real-time developments is key. As price action unfolds, the focus will be on whether key levels hold and what signals and patterns emerge for the next move.
Trade safe, trade smart, trade clarity.
