Bitcoin Forms a Higher Low: Breakout Toward $65,000 Next? 🚀
$BTC
has formed a key Higher Low around its support zone on the 1-hour timeframe, signaling that bearish momentum is fading. Price is currently testing a crucial breakout above the $63,940 resistance level.
Wave Structure: Elliott Wave analysis suggests BTC is setting up for another impulse leg higher following this base formation.
Macro Tailwinds: A rallying S&P 500 continues to offer strong bullish correlation for crypto risk assets.
🎯 Key Targets:
Immediate Target: $64,379 (Initial resistance confirmation)
Primary Target: $65,000 (Cumulative Short Liquidation Leverage Zone)
As long as support holds, the path of least resistance remains to the upside
$BTC
has formed a key Higher Low around its support zone on the 1-hour timeframe, signaling that bearish momentum is fading. Price is currently testing a crucial breakout above the $63,940 resistance level.
Wave Structure: Elliott Wave analysis suggests BTC is setting up for another impulse leg higher following this base formation.
Macro Tailwinds: A rallying S&P 500 continues to offer strong bullish correlation for crypto risk assets.
🎯 Key Targets:
Immediate Target: $64,379 (Initial resistance confirmation)
Primary Target: $65,000 (Cumulative Short Liquidation Leverage Zone)
As long as support holds, the path of least resistance remains to the upside