Bitcoin is Ready to Attack Heavy Support Zone!!!
2025-01-11
Category: None

Today, January 10 , key U.S.  employment data , including  Average Hourly Earnings ,  Non-Farm Employment  Change, and the  Unemployment Rate , were released, influencing global markets, including  Bitcoin ( BINANCE:BTCUSDT ).

 Stronger-than-expected employment figures suggest a robust economy, potentially leading the Federal Reserve to maintain or increase interest rates. Higher interest rates can strengthen the  U.S. dollar ( TVC:DXY ),  making Bitcoin and other cryptocurrencies less attractive as alternative investments , possibly exerting downward pressure on their prices. 
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 Bitcoin  started to pump from the  Heavy Support zone($93,400-$90,000) ,  as I expected . ( Bitcoin allowed us to enter a long position two times .)

 Bitcoin  is moving near the  Resistance zone($96,800-$95,520) , the  upper line of the Ascending Channel , and near the  50_SMA(Daily) .

According to  Elliott's wave theory ,  Bitcoin  seems to  complete wave C  of  Zigzag waves(ABC/5-3-5) . At best,  wave C could rise to $99,000  (but unlikely).

I expect  Bitcoin  to go down based on  today's US employment data  and the fact that the  U.S. DoJ received court approval to sell 69,370 BTCs .  Bitcoin  will attack the  Heavy Support zone($93,400-$90,000)  again soon, and  this attack  may be able to  break this zone .

 ⚠️Note: If Bitcoin goes above $99,000, we can expect more Pumps.⚠️. 

 ⚠️Note: We should expect more dumps if Bitcoin touches $93,500 before reaching the Resistance zone($96,800-$95,520) again⚠️. 

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Bitcoin Analyze (BTCUSDT), 15-minute time frame⏰.

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