Bitcoin BTC Price News Today – Technical Analysis Price Prediction!

By | April 11, 2023

Bitcoin BTC Price News Today: Bitcoin is currently consolidating above the important level of 30k which is a bit of a fomo level. I believe that Bitcoin has been moving up here in a wave one two setup, then we had another one two setup. Bitcoin is sort of doing a breakout now, and it’s all about waiting and seeing if we can hold the relevant support levels when we step up the ladder here. Bitcoin BTC Price News Today

If I had counted this as an Elliott wave triangle, it would have led to a direct breakdown. Now, for me, it makes no difference because counting it as a triangle### or having the support area here, the bullish support is basically the same. If we had dropped out of the 27,560 level, it would certainly have increased the pro#babilities of a breakdown that would have taken a break out to the downside of the triangle.

Bitcoin has only had very shallow pullbacks recently, which is very bullish in my opinion. I wouldn’t be surprised to see it dip down deeper into the orange support area. Ideally, I would like to see a deeper pullback.

Target-wise, obviously, we haven’t really got a confirmed low in place, but what we can do is wait and see if Bitcoin can hold the support levels and consolidate above 30k.

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