Hello everyone, let's summarize and come up with a strategy for today!
Today, BTCUSDT is fluctuating around $70,218 after pulling back from its two-month high of $71,565 earlier this week. The recovery of BTCUSDT is supported by a breakout from its previous downtrend channel and an escape from the previous sideways trend.
At the same time, the current momentum of BTC is still not over, and there are expectations that BTCUSTD will continue this upward trajectory in a healthy manner! Now, I am quite optimistic about the market bull.
Currently, on the 2-hour timeframe, although BTCUSDT is trading relatively calmly, the potential for price increase is still firmly supported. The EMA signal, along with the upward trend, supports the price increase of BTCUSDT. Additionally, the 5 Elliott waves have formed, and based on Fibonacci, I expect the price to correct down to the Fibonacci 0.618 level and even the 0.5 level mentioned before making a strong rally and breaking through the psychological resistance level at $73,800. It is expected that this increase will reach 76,411 USD