According to Elliott Wave Theory analysis, Bitcoin's recent price action shows a corrective pattern since the January high, with the B wave rebound reaching a maximum of 72,174 USD. Subsequently, it declined to 62,525 USD, completing the B wave and triggering a C wave rally with target levels in the 74,750 USD to 82,450 USD zone. The latest 4-hour chart shows sellers entering this zone, triggering a sharp decline that has brought short positions into a risk-free state.

BTC1.19%
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