BTC to start the 5th wave?
I look at the charts and what I see is that BTC is currently in a horizontal range.
The 45k area is strong support and must hold to avoid further downside.
I'm still bullish on BTC because I believe this run is not over yet.
Here's what I believe to be true:
65k completed the major Elliot wave 3.
28.6k completed the major Elliot wave 4.
We are currently in the final wave of the 4 year cycle.
69k marked the 1st wave of that final wave.
We are currently completing the 2nd wave of that final wave.
I'm not sure if it already completed. Time will tell.
Wave 3,4 and 5 are still to come.
What I want to see is either a final shakeout of that 2nd wave or a major bullish impulse wave up which starts wave 3.
57k is a major resistance level because many POC's (points of control) are in that area.
I don't watch many fundamentals but if you want some, here are 2:
BTC on exchanges is at an all-time-low.
BTC hash rate is at an all-time-high.
Key levels:
Resistance:
56825
51900
Support:
45240
Let's finish the year strong!
The 45k area is strong support and must hold to avoid further downside.
I'm still bullish on BTC because I believe this run is not over yet.
Here's what I believe to be true:
65k completed the major Elliot wave 3.
28.6k completed the major Elliot wave 4.
We are currently in the final wave of the 4 year cycle.
69k marked the 1st wave of that final wave.
We are currently completing the 2nd wave of that final wave.
I'm not sure if it already completed. Time will tell.
Wave 3,4 and 5 are still to come.
What I want to see is either a final shakeout of that 2nd wave or a major bullish impulse wave up which starts wave 3.
57k is a major resistance level because many POC's (points of control) are in that area.
I don't watch many fundamentals but if you want some, here are 2:
BTC on exchanges is at an all-time-low.
BTC hash rate is at an all-time-high.
Key levels:
Resistance:
56825
51900
Support:
45240
Let's finish the year strong!
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