Crypto currency strategist credible, bitcoin $83,728.44It is important for it to exceed $ 94,000 in order to move on to my new rise process. Analyst said that the market can gain upward momentum by overcoming this critical level. In existing market conditions, the price of Bitcoin may release depending on certain support and resistance zones.
Credible Bitcoin Estimation
Credible, Bitcoin’s decline tendency will continue if the price remains in the “local supply” zone below $ 94,000. In this context, there is a new bottom formation in the market and the change in market structure is expected. In the following statement, the views of the analyst are included:
Credible: “We are waiting for a change to support the formation of a base structure and the opposite turn in the market structure. This is seen when it confirms that local supply exceeds at $ 94,000. Most importantly, a sudden movement is observed. From time to time it can be difficult to detect these movements. This sudden movement is determined by breaking the local supply. ”
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Technical indicators and expectations
Credible, who included Elliott Wave theory in his analysis, said Bitcoin was in five wavy movements. According to this approach, the first, third and fifth waves give upward clues, while the second and fourth waves indicate periods of correction. According to the graph, it is possible for Bitcoin to rise up to around 104,000 dollars if the resistance of $ 94,000 is broken.
In the graphic analysis, Bitcoin’s potential to recover from $ 76,000 is mentioned, while intensive sales orders of around $ 86,000 are also taken into consideration. Existing market data plays an important role in the follow -up of purchase and sales rates. This reveals that investors should pay attention to the fluctuations in the market.
Technical indicators indicate that a new upward trend in the market may begin when the Bitcoin price exceeds the specified critical resistance. Analyst added that this development can be confirmed with instant market support.
In the light of data, investors may be cautious according to market mobility. Graphic formations and technical analysis can help in evaluating possible support-reasons changes. Sudden movements at the price levels may indicate the continuity of trend changes in the market.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
