Bitcoin is holding above the Fib 1.272 level and is aiming to break through the crucial Fib 1.618 resistance, with investors eyeing a potential major price surge.
BTC needs to form a five-wave pattern for a confirmed bullish trend and sustained upward movement, as market analysts closely watch its progress.
The ability of Bitcoin to overcome the Fib 1.618 resistance level will be significant in determining its future market movement, with potential for increased volatility.
Bitcoin is currently undergoing a correction process, with analysts awaiting clearer signs of a solid uptrend and a strong upward five-wave pattern to indicate an actual uptrend.