Bitcoin price will fall to the level of $9082 in intraday trading

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We should wait for the Bitcoin price ticking down to $9082 before a clear trend

According to chart H4, the pair BTCUSD has entered the confluence zone (marked in the green rectangle) and also crossed over the Fibonacci extension level of 61.8%. There is likelihood for the Bitcoin price to turn back to this strong level of $9082 right at the confluence zone. If the cryptocurrency price can breakout that key level and fall around the support line of $8773, we can expect the start of the Elliott Correction Wave. If the price cannot slide lower than the key level of $9082 and bounce back, the Bitcoin price is likely to fluctuate in a narrow range for some time before the formation of Elliott Correction Wave.

Written by nami.today

 

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