Bitcoin Wave Analysis – 29 May 2025

Bitcoin: ⬇️ Sell

– Bitcoin broke daily up channel

– Likely to fall to support level 105,000.00

Bitcoin cryptocurrency recently broke the support trendline of the sharp daily up channel from the start of April intersecting with the 50% Fibonacci correction of the upward impulse from the middle of May.

The breakout of this up channel stopped the previous impulse wave 5 of the extended upward impulse wave (3) from April.

Bitcoin cryptocurrency can be expected to fall to the next support level 105,000.00, the breakout of which can lead to further losses toward 102150,00 (low of the previous minor correction 4).

Source: https://fxpro.news