TechFlow, Dec 8 — Well-known trader Banmuxia posted on social media saying, "Bitcoin saw a limited overnight rally, with the rise from $80,500 forming an impulse wedge pattern. Under the broader context of a fourth wave correction, this impulse wedge is most likely wave A, meaning the current correction should not exceed the range of $93,100–$83,800. The pullback has now approached the 0.382 Fibonacci retracement level, suggesting a possibility of completion.
Technically, $89,000–$90,000 represents strong support. Market expectations point to a potential upside target between $103,500 and $112,500 over the next month, although the upward path may be somewhat volatile."
Add to Favorites
Share to Social Media
