BitcoinLong
BTCUSD
The Senate has passed a $1.9 trillion coronavirus relief bill, helping to clear the way for millions of Americans to potentially receive $1,400 stimulus checks. Analysts say "with $1,400 stimulus checks set to hit bank balances, so stocks could benefit and 37% of households plan to invest their money into stocks" However, Bitcoin may benefit as well regarding 2-months of duration. We need a close look at US10Y yields and if it breaks 1.45 support that would be a strong bullish scenario.
Let's move on to the technical side. Each elliot wave has a distinct personality. Within a five-wave movement third wave travelled farthest in the shortest amount of time means that the odds are correct for the wave count. Fifth wave may travel the same distance as first wave. On MACD side we have two ZLR (zero line reversal) which confirms the trend. There will be up and downs on the fifth wave but expectation is that BTC price will above 70.000$ (or fibo 2.level 71.848$)
Let's move on to the technical side. Each elliot wave has a distinct personality. Within a five-wave movement third wave travelled farthest in the shortest amount of time means that the odds are correct for the wave count. Fifth wave may travel the same distance as first wave. On MACD side we have two ZLR (zero line reversal) which confirms the trend. There will be up and downs on the fifth wave but expectation is that BTC price will above 70.000$ (or fibo 2.level 71.848$)
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