Long

Bitcoin Is About To Enter 100K Area Soon

Updated

Bitcoin with ticker BTCUSD is coming and moving nicely higher as expected, after Donald Trump won US elections, so coin remains in a strong bullish five-wave impulse on a daily chart with room even up to 130k-150k area. Price came nicely higher, out of a recent wave 4 consolidation into wave 5 of an extended wave (3) close to 100k area in the 4-hour chart. Now that BTC is slowing down, seems like it's making a higher degree correction in wave (4) before the uptrend for wave (5) of 3 towards 100k area resumes. It's ideally forming a bullish triangle pattern in wave (4), but alternatively be also aware of a deeper correction, which can still retest 90k-85k support zone.

Trade active

As expected, BTC jumps into 100K area, as Donald Trump has appointed Paul Atkins, a pro-crypto former SEC commissioner, to lead the SEC. Now that BTC is at 100k area, we should be aware of a higher degree wave 4 correction, but before it shows up, we may still see some short-term rally up to projected Fibo. cluster, triangle target and 105k - 108k area.

Trade closed: target reached

After reaching 100k area, we can now see it slowing down as warned, but it can be just a higher degree A-B-C correction that can retrace the price back to 90k-85k support zone before a bullish continuation for wave 5. Alternatively, wave (4) correction can be completed as a running flat or running triangle.

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