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R.Linda Trading - forecast

BITCOIN → Strong fundamentals and interest lead us to $80K

2024-05-25 12:01 CRYPTO forecast

💡 Ideas For BTCUSD 🪙

📈 BITCOIN → Strong fundamentals and interest lead us to $80K

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BITCOIN reaches a strong $71500 liquidity zone as strong ETH-ETF related news is released. A trap from the market maker catches the crowd off guard and now the market is ready to move on

snapshot

Toretically, the correction wave ends after the false breakdown of resistance and liquidity zone 71500. Bulls successfully hold the defense above the support 67241. Liquidation of part of traders, liquidity capture below the zone increases chances for further growth. The market holds the course towards the global resistance 73679.

Fundamentally and technically BTC looks strongly bullish, the general market background is also strong, which generally supports the theory of further growth with the possibility of ATH update. The fifth wave may be completed in the area of the current ATH, or, on the background of increased interest, may find its target area at 1.236 fibo - $81.980.

Resistance levels: 71572, 73679

Support levels: 67241, 64545

The area of 67250 - 64500 is currently an intermediate bottom, in this place, relative to the whole range, the largest amount of the asset was purchased. We are waiting for a retest of 71572 with the possibility of further breakout and growth to the previously outlined targets

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