My idea is that at the end of wave 4 we could be at the beginning of wave 5 in the trend . The elioti trend could break and become invalid with a break of the $48.5 resistance . target price min the fibo 1.68 level could be around $68-69 .
This is my own opinion , not business advice . Always do your own research in your investments .
This is my own opinion , not business advice . Always do your own research in your investments .
Note
the story is a little different when we move to a larger timeframe . but my idea is still alive within an emerging triangle . with the change that the top of the triangle ($65) is the target price in the first round . this idea is supported by the RSI above 50 on the larger timeframe , the Fischer bottom and the MACD crossover movement . However, I would definitely recommend everyone to place the stop around 48.20 dollars . because the last bottom point was exactly at the bottom of the 2 waves to the cent which can happen in the case of a 4th wave . But if the price loses this support then you have to rethink the whole idea and that is unfortunately rubbish .
This is my own opinion , not business advice ! Always do your own research in your investments !
Trade closed manually
I closed the trade manually at $63 due to the hectic market movement . Maybe those who follow my description should at least withdraw the invested capital . No one has ever gone bankrupt in profit realization :) Happy holidaysNote
I never in my wildest dreams thought that a new ATH was coming . Then the triangle was a Bullflag and yet it could still reach my earlier idea that the target price could be as high as 108 dollars . although it is still very early to say but I will spot buy a few after a backtest . really anything can happen in the Crypto Market :)Note
Note
but this is a very distant vision . before that I definitely expect a serious retest to the 0.5 zone of fibo or even 0.382 . so it is very important that we only take carefully considered steps . we must not give in to FOMO 
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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.