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Bitcoin - Ready to take off ?

By ElliottWaveBelgium
Updated
Bitcoin (and other cryptos) made a nice spike up since the potential bottom in December.
This move might be the first of a potential big rally.

Right now we can count a big wave up followed by an ABC move down where wave C is an Ending Diagonal.
This suggests price should go higher from here.

Notice also that Bitcoin is inversely correlated to stocks and a Sell off might imminent.
If that's the case and stocks start to fall, we should see cryptos take off.

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We got a nice spike up. Now looking for 3800. Before any significant pullback. snapshot
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Alright, we broke the upper channel line.
Things start to look good for cryptos.
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The sunday's sharp decline suggests a three wave (abc) correction. If we see a sharp move above 4120, bulls will have their way. snapshot
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Getting ready to go up again snapshot
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Hidden Divergence building on 4H suggests more upside is coming.
I expect one more push lower first.
If price goes above 3770 we will see price go up.
And with it, as always, other coins will follow. snapshot
Beyond Technical AnalysisBitcoin (Cryptocurrency)BTCUSDLONGriskrewardTrend AnalysisWave Analysis
ElliottWaveBelgium
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