Gold and silver strengthen, BTC stalls? Elliott Wave reveals two key price levels

Question

【Crypto World】Recently, a subpoena from the U.S. Department of Justice has stirred up the market. You will notice that investors are flocking to traditional hard assets like gold and silver, but Bitcoin hasn’t kept up with the pace.

Looking at the technical side—Elliott Wave Theory provides a clear signal. BTC is currently at a critical juncture, with clear resistance and support levels both above and below.

Looking downward, if it breaks below $87,142, be cautious. Once broken, it could head straight to $80,620. This is a support level that requires close attention.

Conversely, if it can break above $94,625, the situation changes. Once it surpasses this level, Bitcoin is likely to continue higher, aiming for new highs.

So, right now, it’s a confrontation between two possibilities—either seeking a bottom downward or making a new high. What is your holding plan?

BearMarketNoodler · Accepted Answer

Elliott Wave is back again, still the same old story. Oscillating between these two numbers has long become boring. The real test lies in how the risk events unfold.

SneakyFlashloan · Answer

This wave of Department of Justice subpoenas really scared the crypto circle quite a bit, but whenever there's a slight movement, people rush to gold, and Bitcoin has become the biggest loser.

If 94625 can't be broken, we still need to keep observing. It feels like the main players are shaking out the weak hands.

That line at 87142 is the real key. Once it's touched, there will probably be another wave of panic selling.

BlockchainGriller · Answer

It's another Elliott Wave... Bro, is this analysis reliable this time? I bought at 87K here and I'm almost stuck with it.

Deconstructionist · Answer

Alright, alright, it's another Elliott Wave and key level analysis, I'm getting ear fatigue from listening... But has 87K really been broken? Feels like it hasn't yet.

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As soon as the Department of Justice issues a subpoena, people rush to buy gold, while Bitcoin is being neglected, which is a bit funny.

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If 94625 breaks, I will add to my position; otherwise, I’ll just keep observing. No need to gamble.

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Gold and silver are rising, but BTC is still sleeping? This wave is indeed a bit abnormal.

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Wait, if 80620 really drops there, I might want to buy the dip... Does anyone else have the same idea as me?

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This wave really feels like hitting a wall—unable to go up or down, it's annoying.

GateUser-addcaaf7 · Answer

Once the Ministry of Justice's subpoena was issued, everyone rushed to buy gold at the bottom, but why is BTC still hesitating here?

Did 94625 break? If not, we need to watch the 87142 line.

Is this wave bottoming out downward or brewing for a big move? It's really hard to tell.

Currently, holding positions is basically betting on the accuracy of Elliott Wave; it feels a bit risky.

Wait, traditional assets have all risen, but BTC is lagging behind? That logic seems a bit strange.

Only by betting on both directions can I feel secure. Who knows which path it will take?

FallingLeaf · Answer

Elliott Wave is a bit spooky now, feels like it's just dancing back and forth between those two positions.

Gold and silver strengthen, BTC stalls? Elliott Wave reveals two key price levels

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