Bitcoin Price Movement Analysis Current Situation Price: $84,721This is AI created analyses, not a trading recommendation. You act at your own risk
EMA:
Technical Analysis
Elliott Wave Theory
The chart shows a completed corrective ABC structure:
Wave (c) concluded near $75,000, which may act as a key support level.
A new upward impulse could form if Bitcoin breaks above $90,000.
Short-Term Strategy
Monitor the $85,000 level (EMA 38):
A sustained move above this level could justify entering long positions targeting $90,000.
Set a stop-loss below $80,000 to minimize risks.
If Bitcoin breaks $90,000:
This would confirm the start of a new upward impulse.
Targets: $100,000 and beyond.
Medium-Term Strategy
Wait for a breakout above EMA 162 ($86,600):
A price consolidation above this line would be a strong signal for continued growth.
Consider holding positions until levels of $110,000–$120,000.
If the price drops below $75,000:
This would confirm the continuation of the bearish trend.
Consider short positions targeting $65,000.
Support and Resistance Levels
Support: $75,000 and $80,000.
Resistance: $85,000 (EMA 38), $90,000, and $100,000.
Conclusion
Bitcoin is in a transitional phase between correction and the potential start of a new bullish cycle. Key levels to watch are EMA 38 ($85,000) and EMA 162 ($86,600). Traders are advised to act cautiously and use stop-loss orders to protect capital while monitoring critical breakout points.
