Bitcoin is trading in a grand cycle wave labled as wave C, in which we are seeing a formation of five waves inside.
a real close above 35500$ will activate a more bullish scenario and gain more momentum to target 42600********* a great resistance in place.
42600 can be an end of an intermediate cycle and we can see a major pullback from these levels, however a break above 42600 will confirm 54000$ as a final target and it will probably be the end of the first grand cycle...
we can see a pullback retesting 19000$ maybe less....
Good Luck
a real close above 35500$ will activate a more bullish scenario and gain more momentum to target 42600********* a great resistance in place.
42600 can be an end of an intermediate cycle and we can see a major pullback from these levels, however a break above 42600 will confirm 54000$ as a final target and it will probably be the end of the first grand cycle...
we can see a pullback retesting 19000$ maybe less....
Good Luck
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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.
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.