Bitcoin(BTCUSDT) managed to pump as I expected yesterday, of course, the main catalyst could have been the ceasefire announcement between Iran and Israel, which had a major impact on high and medium risk assets in the financial markets.
Bitcoin is once again moving near the Heavy Resistance zone($110,720-$105,820) and the Resistance zone($107,520-$106,100) after breaking the Resistance lines.
In terms of Elliott Wave theory, it seems that given Bitcoin’s bullish momentum, Bitcoin has completed the main wave 3 and is currently completing the main wave 4 on the 1-hour time frame. The corrective wave structure of wave 4 could be a Double Three Correction(WXY).
I expect Bitcoin to start rising again near the Support zone($104,380-$103,060), 50_SMA(Daily), Support lines, and Cumulative Long Liquidation Leverage($104,412-$103,812) to rise at least to the Potential Reversal Zone(PRZ)[$108,140-$106,950] and Resistance lines.
Note: Stop Loss(SL)= $102,600 = We can expect more dumps.
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Bitcoin Analyze (BTCUSDT), 1-hour time frame.
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