$BTCUSD - Elliott Wave analysis and important updatesHi guys! 👋🏻
🔔 There were large announcements made recently by Goldman Sachs, whereas the banking giant will be launching the cryptocurrency trading desk as a part of the company’s Global Market Segment. Goldman Sachs will launch Bitcoin futures trading later this month.
🔔 PayPal, which is expanding its crypto offerings in the UK, is assumed to purchase the crypto-custody firm Curv. CashApp owner Square Financial launches banking operations.
🔔 Bitcoin Purpose ETF surges for the 10th day in a row validating interest from institutional investors and as the crypto adoption surges among the financial organizations, so will the price of Bitcoin.
🔔 As per the technical analysis, it seems that Bitcoin has completed the formation of wave 4 and is forming wave 5 according to the Elliott Wave theory.
🔔 As seen on a 4 Hour chart of BTC/USD, Bitcoin is supported by MA200, closed above MA100 and EMA50 and continues the uptrend. There is a resistance at $51130 - $51140 levels, if Bitcoin closes above these levels, it will jump towards the ATH at $58000 and further.
🔔 The pair has formed an ascending parallel channel as seen in the daily Bitcoin chart below.
🔔 As the levels of the parallel channel suggest, the next resistance could be at $62400 and $70890 if the strong impulse remains.
✊🏻 Good luck with your trades! ✊🏻
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