Rally

Future

Bitcoin

<ul class="wp-block-list">
  
 <li>Bitcoin’s price fell by 7%, aligning with Crypto Patel’s Elliott Wave analysis, and support is now at $96K.&nbsp;&nbsp;</li>   
 <li>Fibonacci retracement shows Bitcoin could drop to $90,048 or $85,063 if $96K support fails, creating new entry levels.&nbsp;&nbsp;</li>   
 <li>A strong price recovery is expected, with future targets projected at $120K to $135K after Wave 4 correction concludes.&nbsp;&nbsp;</li> 
</ul>   
<p>Bitcoin’s price fell by 7%, reaching $100,544, and aligned perfectly with the Elliott Wave analysis shared by Crypto Patel. The ongoing Wave 4 correction has brought a critical focus to Bitcoin’s key support zones and projected future targets. Analysts predict that Bitcoin could recover sharply, with potential highs between $120,000 and $135,000 after the correction ends.&nbsp;&nbsp;</p>   
<figure class="wp-block-image">
 <img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfK2wFuYuBbcjadCjvQ9goGU-kSktdQxEIxdX1kQGgouOJsfvaLJhlj0B802it_kC61KwRX0qkU5f2q1MeECistKABKXUHXetBHTmxS3rccMW54_B4a32_4tfSTnf4ZfwSVFFVZ?key=wYuekc43JkVlp9crg5ddixpV" alt="">
</figure>   
<p>Source: <a href="https://x.com/CryptoPatel/status/1869582593123103067" target="_blank" rel="noreferrer noopener"><em>CryptoPatel</em></a></p>   
<h2 class="wp-block-heading" id="h-key-support-levels-to-watch-nbsp-nbsp"><strong>Key Support Levels to Watch&nbsp;&nbsp;</strong></h2>   
<p>The token’s&nbsp; primary support level is $98,000, with a secondary support range between $96,000 and $98,000. If the $96,000 zone fails, prices might fall further toward the $90,048 level, which aligns with the 0.382 Fibonacci retracement. Another<a href="https://cryptonewsland.com/fantom-ftm-could-surge-to-12-26-as-key-breakout-levels-near/" target="_blank" rel="noreferrer noopener"> critical Fibonacci level</a> at $85,063 could act as a deeper support in case the drop extends.&nbsp;&nbsp;</p>   
<p>Crypto Patel previously identified an entry range between $106,000 and $108,000, which allowed many traders to capitalize before the recent decline. Traders now anticipate Bitcoin could drop an additional 7.8%, or $8,370, as Wave 4 correction nears completion.&nbsp;&nbsp;</p>   
<h2 class="wp-block-heading" id="h-what-traders-should-focus-on-nbsp-nbsp"><strong>What Traders Should Focus On&nbsp;&nbsp;</strong></h2>   
<p>Crypto Patel emphasizes avoiding high-leverage trades as Bitcoin nears its critical support levels, where risks of further declines remain high. If prices break below $96,000, Bitcoin could test $91,000 and $86,000 before recovering. Traders are encouraged to wait for Wave 4 to fully play out before taking long positions.&nbsp;&nbsp;</p>   
<p>The current phase presents opportunities for careful traders who manage risk effectively. With projected price targets between $120,000 and $135,000, Bitcoin’s long-term outlook remains strong despite the short-term volatility.&nbsp;&nbsp;</p>   
<h2 class="wp-block-heading" id="h-future-price-movement-nbsp-nbsp"><strong>Future Price Movement&nbsp;&nbsp;</strong></h2>   
<p>Bitcoin’s long-term potential remains bullish, with Elliott Wave analysis suggesting a significant price surge after Wave 4 concludes. The anticipated upward move aligns with historical market patterns, providing traders with opportunities for strategic entries at lower levels.&nbsp;&nbsp;</p>   
<p>This raises the question: Are traders prepared to navigate the current volatility and position themselves for the projected rally to new highs?&nbsp;&nbsp;</p>   
<p>As the market continues correcting, Crypto Patel’s insights on support zones and future targets provide valuable guidance.<a href="https://cryptonewsland.com/112000-bitcoin-ath-price-target-remains-despite-market-dump/" target="_blank" rel="noreferrer noopener"> Bitcoin’s price action</a> in the coming days will determine whether it rebounds toward $120,000 or experiences a deeper correction.&nbsp;&nbsp;</p> 
<p>The post <a href="https://cryptonewsland.com/bitcoin-may-rally-to-120k-after-7-drop-says-analyst/">Bitcoin May Rally to $120K After 7% Drop :Says Analyst</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Bitcoin May Rally to $120K After 7% Drop :Says Analyst

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