Bitcoin Analysis: 82K To 94K Target Zone Explained

Bitcoin has rallied over 20 percent in April alone, but the structure still suggests this is a corrective move up inside a larger decline. In this video I walk through the daily chart, explain why the Strait of Hormuz reversal triggered today’s pullback, and show you the Fibonacci target zone between 82K and 94K for this rally. I also break down two possible short term pathways and the support levels that need to hold for higher prices.

00:00 Bitcoin Rallied 20% In April But It Is Still Corrective
00:45 Strait Of Hormuz: Open Then Closed Within 24 Hours
01:30 Daily Chart: Rejection At 21 Week EMA And Yellow Trend Line
02:30 The ABC Structure And Why Every Bounce Looks The Same
03:46 Why Corrective Bounces Are Fragile And Headline Driven
04:30 Fibonacci Target Zone: 82K To 94K Explained
06:00 How To Confirm A Top: Five Waves Down Then Three Up
07:00 Short Term: Five Wave Move Up From March Low
07:41 Why The Hormuz Reversal Hit At The Perfect Technical Level
08:30 The C Wave Structure: Wave One Possibly Complete
09:30 Two Pathways For Higher Prices
10:30 Upper Support At 75,846 And Main Support At 67,500
11:19 Summary: Higher Prices Expected But Pullback First
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