BTC

According to Elliott Waves, we are still in the fourth wave which extends from 73777 to 49950.
Sometimes Bitcoin exceeds the wave level,

I Think that Bitcoin is not finished falling, and will start falling from 74,000 – 71,000 to the red level of 55,900 – 49,900.

Then after that we will witness a real bull run extending to 85,000

Note

BTC 1D

Note

Bitcoin may exercise these waves, but in the end it will drop to the 55900-49900 area .

This may take several weeks or months.

Note

Bitcoin seems to be in a state of confusion like never before

Note

Bitcoin remains hesitant inside the triangle

Note

I Think that the real rise of Bitcoin will not start until the RSI drops to the 50-60 level (weekly candles)

The price should be between 58k - 49k ... and the exact golden number here is 56k

Note

Bitcoin broke the triangle down
Wait for the close of the day

Note

The RSI on the weekly candles drops to level 63 and approaches the previously placed chart

Note

FIBONACCI

Note

59K ✅

Note

I hope the price doesn't go down,
But it is expected to go to 56,000 and then we will see what happens.

Note

Bitcoin price has dropped to 56,000 ✅

Let's see if it closes above or below 59,000

Note

Please support the idea to continue updating ☺️ ✅

Note

The RSI on the weekly candles drops to level 57

Note

Interest rates are steady and the Fed press conference is positive

We wait for a close at a price higher than 59,000

Note

Maybe This is the next move of Bitcoin on the weekly candles.

Note

On March 26, when Bitcoin was at 70,200, I warned that it would drop to 56,000, and that this was the golden number at that time (you can read the first technical analysis above).

Indeed, within a month it fell to 56,500 on May 1st.

Now we see that it has dropped to 53500, don't worry this is also expected but I did not expect it this quickly, at the beginning of this analysis I told you that we are still in the fourth wave of Elliott waves, and that this wave extends from 74000 to 49900, and any price movement in this range is not considered a cause for concern.

What worries me is that the price drops and closes below 49900, Remember that well.

So far, there's nothing to worry about. :)

My prediction now is that Bitcoin may start an uptrend, may continue in a sideways trend for several months and then take off, or may quickly take off to the upside, for me I started buying into altcoins.

Now I will close this technical analysis because it has achieved what was mentioned,

I may post a new technical analysis later.

So that you do not miss anything new, please follow and support me ,

Goodbye and good luck :)

TARGETS_2024

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.

TARGETS_2024