Bitcoin is trading near $87,800 after briefly falling to $86,000, its lowest level in over a month. Over the past seven days, the asset has dropped by more than 5%. In the last 24 hours, it slipped nearly 1%.
Analyst Sees Corrective Bounce Forming
Crypto analyst Junkie says Bitcoin has completed a five-wave bearish pattern based on Elliott Wave Theory, which often marks the end of a move. The analyst expects a short-term bounce before any further decline.
The chart shared shows a potential ABC correction forming. This includes a rise (A), a dip (B), and another push up (C). If this plays out, Bitcoin could retest a trendline from previous lows and possibly reach the $91,000 to $92,000 range. Junkie added:
“We may have a bit further down to go ($84k) until 5 waves finishes but if we haven’t reversed already, we will.”
A separate view from The Maverick of Wall Street points to a bear flag forming on the weekly chart. This type of setup often appears after a sharp fall. It forms a
We współpracy z: https://cryptopotato.com/will-bitcoin-bounce-analysts-split-on-next-major-move/
