Bitcoin Bullish scenario leading to 4/2 settlement
Bitcoin is in the process of resolving its third peak/wave cycle since the local low below $170. I noticed a pattern where each wave has retraced to the next fib level higher. The first wave retraced 38.2% to the peak after crashing, the next went to 50%, so if the pattern is to continue this wave will go to $277.
This seems a reasonable target for this week's OKCoin weekly settlement as many shorts would be force liquidated.
Beyond that, the three wave cycle will have resolved to the upside, and a break above the wedge resistance would seem bullish. Fundamentals seem strong lately with the first pseudo ETF
GBTC launching so I'm betting on a break to the upside.
Additionally a total lunar eclipse occurs on 4/4 for the astrologers out there.
This seems a reasonable target for this week's OKCoin weekly settlement as many shorts would be force liquidated.
Beyond that, the three wave cycle will have resolved to the upside, and a break above the wedge resistance would seem bullish. Fundamentals seem strong lately with the first pseudo ETF
GBTC launching so I'm betting on a break to the upside.Additionally a total lunar eclipse occurs on 4/4 for the astrologers out there.
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