A Crypto -Trek that is known for doing timely Bitcoin calls says that BTC must remove a price surface to indicate the start of a new leg.
In a new video credible pseudonymous analyst tells His 69,000 YouTube subscribers that he is looking for the immediate resistance of Bitcoin at $ 94,000.
According to the analyst, the disadvantage of Bitcoin will probably continue to exist as long as BTC is under what he thinks is a “local range” zone.
“We are looking for a kind of soil structure to form here, a kind of shift in the market structure for a potential reversal upwards. And that is confirmed as soon as we delete this local stock here (for $ 94,000).
And the most important thing is seeing an impulsive movement to the advantage. And yes, sometimes they can be difficult to spot or identify … So we’re looking for [an] Impulsive movement to the advantage, ideally breaking the local stock, and that is our indication that we started the next leg to the top. “
An impulsive rally in this case is based on the Elliott golf theory, which states that a Bullish Activum tends to see an increase of five golf where waves are one, three and five upward movements and waves two and four are corrective periods.
Looking at the trader’s graph, he seems to predict that BTC will rise nearly $ 104,000 if the resistance decreases at $ 94,000.
Although credible believes it is within the empire of the possibility for BTC to end his downward trend after bouncing a low of $ 76,000, notes The Heatmap of Die Bitcoin indicates thick sales orders at around $ 86,000 with a heavy demand under $ 84,000.
A heatmap follows existing Buy and Sell orders on a crypto exchange order book.
“Something has to give.”
At the time of writing, Bitcoin acts for $ 84,374.
https://www.youtube.com/watch?v=N0GSDGCNYEG
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Generated image: midjourney
