Based on the wave count, it seems that Bitcoin has entered a new uptrend after completing a long-term correction in the form of a neutral triangle pattern.
Since the first wave of this uptrend has an impulse structure, it can be said that a bullish zigzag pattern is taking shape, and we are currently in wave B of it.
Based on the analysis, wave B of the zigzag can develop into a neutral triangle, with wave D continuing to the $100,000 or $110,000 level, and wave E can also retrace about 38% of it.
With the completion of wave B, the price can enter wave C with a target of $158,000 to $180,000.
Since the first wave of this uptrend has an impulse structure, it can be said that a bullish zigzag pattern is taking shape, and we are currently in wave B of it.
Based on the analysis, wave B of the zigzag can develop into a neutral triangle, with wave D continuing to the $100,000 or $110,000 level, and wave E can also retrace about 38% of it.
With the completion of wave B, the price can enter wave C with a target of $158,000 to $180,000.
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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.