๐ Weekend Consolidation Signals Potential Breakout
Bitcoin spent the weekend consolidating, hovering near key levels. According to Elliott Wave Theory, BTC may be nearing the end of wave five, hinting at a possible high before a significant correction begins.
๐ Key Support and Resistance Levels
Short-term support is found between $95,900 and $96,530, while resistance sits at $98,500 and $100,200. A break above these levels could confirm further upward momentum, with $100K as the psychological target.
๐ Fibonacci Levels Indicate Milestones
The next key resistance aligns with significant Fibonacci levels, suggesting a potential move toward $100K before facing a correction. Traders should closely monitor price movements near these milestones.
๐ฏ Cramerโs $90K Entry Recommendation
Jim Cramer recently highlighted $90K as an attractive entry point for Bitcoin investors. He believes BTCโs long-term potential outweighs short-term volatility, making it a solid investment even at elevated prices.
โ๏ธ Market Outlook Remains Cautiously Bullish
While Bitcoin holds strong, volatility could intensify as the weekly candle closes. Bulls need to push beyond $100K to sustain the rally, while bears eye the $90K support level as a critical entry point.
๐ Key Levels to Watch
Investors should monitor $98,500 for bullish confirmation and $95,900 for potential breakdown signals. The week ahead could define Bitcoinโs next major move.
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