Due to market volatility, determining optimal Bitcoin buying times is challenging. A crypto analyst, ‘Stockmoney Lizards,’ identified key price levels, noting Bitcoin's 5-wave uptrend followed by an ABC correction.
Wave B ended at $69,885, a resistance point. The $66,745 price also acts as resistance, while the 1.618 Fibonacci extension level is a support area.
Critical buy levels to monitor are between $61,800 and $62,300. If Bitcoin drops below $61,800, it may decline to $56,800.
Overall, the analyst forecasts a bullish outlook for Bitcoin in the short and mid term, with potential new all-time highs expected by September 2024.
