Bitcoin analysis: Tuesday, October 24
➕ After the end of a five-wave sequence at the level of $31,800, the index decreased towards the static support of $25,000 in the form of the second corrective wave. Following that, with the $25,000 support, buyers re-entered the trend, and as global geopolitical tensions increased and the SEC increased confidence in blockchain ETFs, demand for Bitcoin increased and buyers managed to break through the 31,800 resistance level last day. pass $ Currently, the price of Bitcoin is hovering around $34,446.
➕ In terms of the wave pattern, we consider this upward movement as the third minor motivational wave. This wave will be the biggest wave in this bullish pattern and according to this theory, we analyze a price target for this pattern in the range of $50,000. In this direction, two important resistance levels are evaluated in the ranges of $36,000 and $42,000, respectively.
➕ In the short term and during this week, we evaluate the target of the upward wave in the range of $36,000.
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➕ After the end of a five-wave sequence at the level of $31,800, the index decreased towards the static support of $25,000 in the form of the second corrective wave. Following that, with the $25,000 support, buyers re-entered the trend, and as global geopolitical tensions increased and the SEC increased confidence in blockchain ETFs, demand for Bitcoin increased and buyers managed to break through the 31,800 resistance level last day. pass $ Currently, the price of Bitcoin is hovering around $34,446.
➕ In terms of the wave pattern, we consider this upward movement as the third minor motivational wave. This wave will be the biggest wave in this bullish pattern and according to this theory, we analyze a price target for this pattern in the range of $50,000. In this direction, two important resistance levels are evaluated in the ranges of $36,000 and $42,000, respectively.
➕ In the short term and during this week, we evaluate the target of the upward wave in the range of $36,000.
📌 If this post was useful for you and you would like to know about our other analysis, like the post and leave us an energetic comment ☺️🌹