106,600$ → 100,300$ → 116,000$
The third extended wave of Bitcoin has completed, and it is now going through a correction phase.
Wave 4 corrections often retrace to the 0.382 Fibonacci level.
Therefore, a price drop to that level is expected — around $106,600.
This correction is unfolding as a W–X–Y pattern.
In wave W, the internal ABC subwaves completed with wave C reaching 1.618 times the length of wave A.
Currently, Bitcoin is in the rising phase of wave X.
No one knows how high wave X will go,
but what’s important is that after wave X finishes,
one more lower low is expected — again around $106,600.
At that price level, I plan to open a $2 billion long position with 10x leverage.
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.
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.