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Recently, the judicial actions in the US have caused widespread panic, with investors frantically buying up gold and silver, making the hard asset market extremely hot. But what about Bitcoin? The response has been quite lukewarm. From a technical perspective, Bitcoin is currently in a delicate position—likely brewing a wave of correction.
According to the Elliott Wave Theory analysis framework, there are two key price levels to watch: if Bitcoin falls below $87,142, the next support level depends on whether $80,620 can hold; conversely, if it breaks through $94,625, it means the bulls still have the strength to continue pushing upward, and a new high is not a dream.
The current question is, which direction will Bitcoin go? Market sentiment and technical signals are giving clues; it all depends on how the upcoming trading volume and price movements coordinate.