Bitcoin Price Movement Analysis Current Situation Price: $84,721

This is AI created analyses, not a trading recommendation. You act at your own risk

EMA:


Technical Analysis
Elliott Wave Theory
The chart shows a completed corrective ABC structure:

Wave (c) concluded near $75,000, which may act as a key support level.

A new upward impulse could form if Bitcoin breaks above $90,000.


Short-Term Strategy
Monitor the $85,000 level (EMA 38):

A sustained move above this level could justify entering long positions targeting $90,000.

Set a stop-loss below $80,000 to minimize risks.

If Bitcoin breaks $90,000:

This would confirm the start of a new upward impulse.

Targets: $100,000 and beyond.

Medium-Term Strategy
Wait for a breakout above EMA 162 ($86,600):

A price consolidation above this line would be a strong signal for continued growth.

Consider holding positions until levels of $110,000–$120,000.

If the price drops below $75,000:

This would confirm the continuation of the bearish trend.

Consider short positions targeting $65,000.

Support and Resistance Levels
Support: $75,000 and $80,000.

Resistance: $85,000 (EMA 38), $90,000, and $100,000.

Conclusion
Bitcoin is in a transitional phase between correction and the potential start of a new bullish cycle. Key levels to watch are EMA 38 ($85,000) and EMA 162 ($86,600). Traders are advised to act cautiously and use stop-loss orders to protect capital while monitoring critical breakout points.