Bitcoin's price trajectory is under close scrutiny as technical analysis points to a potential retest of the 83k level before a significant rally towards 155k. According to the results published in the material, traders are keenly watching market conditions for signs of a Wave 4 correction, which could set the stage for a substantial price increase.
Current Market Analysis
Current market analysis suggests that for the Wave 4 correction to be completed, Bitcoin must break above the 103k mark. This breakout would serve as a confirmation for the anticipated Wave 5 expansion, potentially leading to new highs.
Potential Price Levels
Furthermore, if Bitcoin can maintain a strong position above the 912k level, it may effectively stave off a decline towards the:
- 836k
- 833k
range, providing a more bullish outlook for traders.
In a notable shift within the DeFi sector, Build on Bitcoin has expanded to the Internet Computer (ICP), enhancing its platform capabilities. This development comes as Bitcoin's price is closely monitored for potential movements; read more.
