#BITCOIN ⟶ Two Powerful Scenarios for next Surge!!
2024-10-12

#Bitcoin Analysis Summary
4-hour timeframe ⏰

#Bitcoin could start a new bullish move based on one of the following scenarios:

Scenario 1: Growth based on the Cup pattern
If the resistance zone 62571.55-62755.61 and the recent bearish trendline (shown in the chart) on the 1-hour timeframe are broken, growth will continue from here 📈.

Scenario 2: Growth based on the Wedge pattern
If there's weakness around the resistance zone 62571.55-62755.61 and the 1-hour timeframe bearish trendline, and a drop begins (the condition for a drop will be analyzed further in lower timeframes), #Bitcoin could drop to the support zone 57868.51-58410.33, form a bottom, and then start its bullish move 📉🛡️📈.

Next growth targets:
Target 1: 65683.10 🎯
Target 2: 68546.30-69033.73 🎯
Target 3: 74739.86 🎯

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#Bitcoin Analysis Summary
1-hour timeframe ⏰

Before the growth condition is fulfilled from here (breaking the bearish trendline on the 1-hour timeframe as per the previous analysis):

A break of the bullish channel of the last growth on the 1-hour timeframe could lead to a drop to the support zone 57868.51-58410.33 📉🛡️.

In this case, growth will follow Scenario 2 (from the 4-hour timeframe analysis).
