BitcoinLong
Bitcoin reaching 40k soon?
In our previous idea we saw that the expected breakout would exceed 38k and today we are seeing prices above 39k, which we observe in a ending impulse wave or channel. Although it is true we have a resistance in the 40k that we must pass and surely it will be so.
In my Elliottists analysis, we can see the formation of the minor fifth wave in 4H of a major fifth in daily temporality. Currently ending a minor third wave of its fifth wave. This indicates a correction to 38% FIBONACCI (statistically). However, this fourth wave will surely be complex to take liquidity and possibly reach values of up to 38k. to gain the necessary momentum to take us between 40k to
42K and begin its correction to end its cycle. It is clear that I am ahead of fundamental parameters, but everything indicates that we are going in that direction in the coming weeks.
In my Elliottists analysis, we can see the formation of the minor fifth wave in 4H of a major fifth in daily temporality. Currently ending a minor third wave of its fifth wave. This indicates a correction to 38% FIBONACCI (statistically). However, this fourth wave will surely be complex to take liquidity and possibly reach values of up to 38k. to gain the necessary momentum to take us between 40k to
42K and begin its correction to end its cycle. It is clear that I am ahead of fundamental parameters, but everything indicates that we are going in that direction in the coming weeks.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.