In this video, we break down Bitcoin on the 4h and 1h charts using Elliott Wave Theory. You’ll discover both bullish and bearish scenarios, plus the critical price levels and targets to watch.
Video by Koenz Trading.
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Bitcoin (BTC) is currently trading at $65,012.51, reflecting a 1.30% decline over the last 14 hours. The market is experiencing significant volatility following reports of a coordinated military strike by the U.S. and Israel on Iran early Saturday morning.
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Bitcoin Insights Today
-Geopolitical Shock: BTC plunged as much as 5% toward $63,000 immediately after news of the Middle East escalation broke, acting as a "pressure valve" while traditional markets were closed.
-Macro Headwinds: Selling pressure was already building following "hotter" January Producer Price Index (PPI) data released on Feb 27, which has dampened hopes for imminent Federal Reserve rate cuts.
-Mass Liquidations: Approximately $100 million in leveraged long positions were wiped out within 15 minutes of the strike headlines, accelerating the intraday slide.
-Institutional Moves: Despite the price drop, Citi and Morgan Stanley have reportedly expanded their Bitcoin custody and tokenization efforts as of late February.
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