Current Bitcoin Market Status
As of June 24, Bitcoin has rebounded to $105,000** while Ethereum trades around **$2,400. Our technical analysis confirms the corrective phase from $111,959 to $98,000 has conclusively ended, marking the start of a new bullish cycle targeting $130,000+.
Technical Structure Breakdown
The recent decline from $111,959 formed a textbook ABC correction pattern:
- A-wave: Initial downward impulse
- B-wave: Distinct triangle consolidation
- C-wave: Final downward extension
This completed correction signals the transition into a new C-wave uptrend - the primary momentum phase where strategic positioning becomes crucial.
Key Market Observations
- Bitcoin: Correction complete, $130,000+ target reactivated
- Ethereum: Correction complete, $3,400+ target reactivated
👉 Discover professional trading strategies to capitalize on this market movement.
Trading Strategy Recommendations
- Position Building: Gradually accumulate positions during pullbacks
- Risk Management: Maintain disciplined stop-loss orders
- Profit Targets: Scale out positions at key Fibonacci extensions
Frequently Asked Questions
Q: Is this Bitcoin's final bullish phase before a major correction?
A: While we're entering a new upward wave, markets move in cycles. We recommend monitoring key resistance levels and adjusting strategies accordingly.
Q: What's the timeframe for the $130,000 target?
A: Based on wave projections, this target could be achieved within 8-12 weeks if momentum sustains.
Q: How should Ethereum traders approach this market?
A: ETH typically follows BTC's lead but with amplified volatility. Consider ratio trading strategies between the two assets.
Final Trading Insights
The confirmed reversal presents what may be 2024's most significant trading opportunity. Market participants should:
- Focus on higher timeframe price action
- Avoid emotional trading during volatility
- Utilize proper position sizing
👉 Access exclusive market analysis to enhance your trading performance.
Disclaimer: This analysis represents personal market perspectives, not financial advice. Cryptocurrency trading carries substantial risk - only trade with capital you can afford to lose.
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