Technical Analysis of Bitcoin (BTC/USDT) - Forecast Until March
Technical Analysis of Bitcoin (BTC/USDT) - Forecast Until March 2025
This analysis is based on Elliott Wave theory, Fibonacci tools, and time analysis. It continues the previous analyses and observations, predicting possible scenarios for Bitcoin’s price movements in the upcoming months.
Key Points:
Interaction with the 50% Fibonacci Level: Recently, Bitcoin’s price has hit the 50% Fibonacci level, indicating a strong reaction. This level has acted as significant support and could potentially trigger an upward trend.
Elliott Wave Analysis: According to the Elliott Wave count, wave (c) is currently forming, suggesting that the price might drop further.
Possible Scenarios:
Bearish Scenario: If Bitcoin fails to maintain above the 50% Fibonacci level and the decline continues, it is predicted that the price will reach around $37,000 by March 2025. This is highlighted by the red vertical line on the chart.
Bullish Scenario: If Bitcoin is supported at the current level and begins an upward trend, it could surpass the previous highs by December 2024. This potential uptrend is indicated by the green vertical line on the chart.
Conclusion:
This analysis, continuing from previous insights, is based on historical data and technical tools, and aims to assist traders in making informed decisions. It is important to remember that financial markets always carry risks, and personal research and risk management are crucial.
This analysis is based on Elliott Wave theory, Fibonacci tools, and time analysis. It continues the previous analyses and observations, predicting possible scenarios for Bitcoin’s price movements in the upcoming months.
Key Points:
Interaction with the 50% Fibonacci Level: Recently, Bitcoin’s price has hit the 50% Fibonacci level, indicating a strong reaction. This level has acted as significant support and could potentially trigger an upward trend.
Elliott Wave Analysis: According to the Elliott Wave count, wave (c) is currently forming, suggesting that the price might drop further.
Possible Scenarios:
Bearish Scenario: If Bitcoin fails to maintain above the 50% Fibonacci level and the decline continues, it is predicted that the price will reach around $37,000 by March 2025. This is highlighted by the red vertical line on the chart.
Bullish Scenario: If Bitcoin is supported at the current level and begins an upward trend, it could surpass the previous highs by December 2024. This potential uptrend is indicated by the green vertical line on the chart.
Conclusion:
This analysis, continuing from previous insights, is based on historical data and technical tools, and aims to assist traders in making informed decisions. It is important to remember that financial markets always carry risks, and personal research and risk management are crucial.
Penafian
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