Bitcoin Set To Test Resistance At $80,600 After Bottoming At $74,000
Bitcoin (BTC) bottomed at $74,000 and is now poised to test the $80,600 resistance level, according to analyst Tara. Despite recent pullbacks, the market structure remains bullish. A double bottom formation suggests a potential upward retracement, with an expected minor pullback to $77,600 before a possible surge toward $83,700. Tara outlines a scenario where BTC might later test the $70,700 support level before entering a final Wave 5 rally. The long-term target remains $150,000, with a slight adjustment to $145,000 if the lower support is reached. The overall outlook for Bitcoin remains strongly bullish.
bitcoinist02/05 03:33