The Trust Layer for Market Analysts

The analysis focuses on Bitcoin (BTCUSDT) using the Daily timeframe. The current price is approximately $74,870. The presented Elliott Wave count suggests a potential bullish continuation. Key resistance levels are identified at the 50% Fibonacci retracement at $88,086, the 61.8% retracement at $94,143, and the 161.8% extension at $94,706. A crucial support level, acting as a failure point for the bullish outlook, is observed around $70,750. The analysis implies that as long as Bitcoin remains above this level, the bullish scenario is likely to play out, targeting higher price levels.