Analyst: Bitcoin may pull back to $74,600, but the medium-term trend remains bullish

PANews October 15 news: Crypto analyst Darkfost posted that there are no substantive changes in Bitcoin's technical picture. The first impulse wave (Wave 5) has ended at the expected position, and the next phase may be a second-wave correction, with a pullback target possibly at $74,600, corresponding to the common 0.382 Fibonacci retracement level. Currently, BTC has fallen below the 21 EMA, is temporarily finding support near the 50 EMA, and the 200 EMA is located at about $75,800. RSI has returned to the neutral level of 50, and its gap with its 14-day moving average has widened, meaning the market may first see a Wave B rebound, followed by the final leg of a Wave C correction. Darkfost said that there are currently no signals worth worrying about, and Bitcoin's medium-term trend remains positive.