Today we will look at the 4 hour timeframe. In this time frame, we are still in a growing channel. Another post by Musk warmed up the market and we got a rebound after the correction. To continue to grow and break through the level of 60,000, we need to gain a foothold above 57,000 USD.
On a shorter time frame (1-2 hours), we are below 100 SMA, which means that we will face a small local correction. Overall, it looks like BTC is slowing down and suggesting a flat, but we'll see that a little later. For now, it is better to watch the market and the breakout of certain levels. Approximate movement is shown by 5 waves. While BTC is in an uncertain position, one can take a closer look at the growing altas.
On a shorter time frame (1-2 hours), we are below 100 SMA, which means that we will face a small local correction. Overall, it looks like BTC is slowing down and suggesting a flat, but we'll see that a little later. For now, it is better to watch the market and the breakout of certain levels. Approximate movement is shown by 5 waves. While BTC is in an uncertain position, one can take a closer look at the growing altas.