The post Bitcoin Price Prediction: Will BTC Break $72,000 or See Another Pullback? appeared first on Coinpedia Fintech News
Bitcoin continued trading in a local uptrend ahead of the trading session, extending the recovery that began earlier this week.
Market analysts say that the current move appears to be developing within a classic ABC corrective structure, a pattern often used in Elliott Wave analysis to identify short-term price movements.
The recent upward move is believed to represent the B wave followed by a push into wave C, meaning that Bitcoin could soon approach an important resistance zone.
Resistance Levels in Focus
The next major resistance levels are located around $70,767 and $72,200.
These levels have been closely watched by traders over the past few days. A strong breakout above this zone could signal a more bullish scenario for Bitcoin in the short term.
However, analysts caution that if Bitcoin remains below the $72,200 pivot, the possibility of another
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