#BTC

🚨Bitcoin Price Analysis: Bullish Breakout or Bearish Breakdown?

Hey everyone,

Just dove into a compelling technical analysis of Bitcoin's price using the Elliott Wave Theory by More Crypto Online. They break down two main possibilities for Bitcoin's short-term journey: a bullish "yellow wave" and a bearish "white wave."

The Bull Case (Yellow Wave):

This scenario is music to the ears of hodlers (long-term holders). It suggests we've already hit the bottom, and the price is ready to rocket towards $81,000 before a correction. Sounds pretty dreamy, right?

The Bear Case (White Wave):

The analyst seems to favor this scenario, which isn't the most cheerful news. It predicts a further drop for Bitcoin, potentially down to $60,000, before a new uptrend emerges. Their reasoning? A recent break below a crucial support level.

Key Points to Remember:

The analyst leans towards the bearish "white wave" scenario. Hold on tight!

If Bitcoin can climb above $68,400, it might signal a potential bottom.

A decisive break above $71,000 would be a strong bullish confirmation.

For more insights and crypto content, follow More Crypto Online on Instagram and Twitter (check the description for links).

So, what do you all think? Bullish breakout or bearish breakdown for Bitcoin? Let's discuss in the comments!