Bitcoin ( BINANCE:BTCUSDT ) started its price increase as expected in previous idea . As I mentioned in earlier posts, the ceasefire between Iran, the U.S., and Israel in the Middle East yesterday was a major trigger for Bitcoin’s stronger momentum, helping it reach the previous full target.
At present, Bitcoin seems to be breaking the resistance zone($70,730-$69,310) and is currently moving within a heavy resistance zone($76,600-$71,700) close to a Potential Reversal Zone(PRZ) .
From an Elliott Wave perspective, Bitcoin appears to be completing its main wave 5, which could finish within the Potential Reversal Zone(PRZ) and the Cumulative Short Liquidation Leverage($74,100-$73,070).
I expect Bitcoin, after touching the Potential Reversal Zone(PRZ) , to begin decreasing and at least fall to around $70,800. If momentum weakens further, it could drop down to support lines and fill CME Gaps.
First Target: $70,800
Second Target: Support lines
Third Target: $67,833
Stop Loss(SL): $75,083(Worst)
Points may shift as the market evolves
Cumulative Long Liquidation Leverage: $71,240-$70,830
Cumulative Long Liquidation Leverage: $66,430-$65,380
New CME Gap: $69,535-$67,170
New CME Gap: $67,570-$67,170
What’s your view—can Bitcoin stabilize above $75,000, or should we expect another correction?
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📌Bitcoin Analysis (BTCUSDT), 1-hour time frame.
🛑 Always set a Stop Loss(SL) for every position you open.
✅ This is just my idea; I’d love to see your thoughts too!
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