Bitcoin in a stormy sea
Bitcoin is recovering after a long correction and reaching the level of 28k. Is it a downward correction with three uptrends to 54-56k levels? Very likely. It is this level of 54-56k, i.e. fibbo 618 and 786 mm, that may turn out to be an insurmountable level, where we will see strong downward movements to the last lows or lower :(
On the other hand, BTC broke the trend lines and is between the averages (Pi index), which usually heralded the continuation of the upward trend. Personally, I believe that BTC will slowly climb up and we will break the 100k level this year.
*An additional positive confirmation may be the change to a positive index of macda and RSI, which cooled down significantly after the recent declines.
I would just like to point out that the current moment is crucial and it is from this point that it depends whether we will see a deepening of the five-wave correction or see an upward 3-wave upward movement to new peaks.
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On the other hand, BTC broke the trend lines and is between the averages (Pi index), which usually heralded the continuation of the upward trend. Personally, I believe that BTC will slowly climb up and we will break the 100k level this year.
*An additional positive confirmation may be the change to a positive index of macda and RSI, which cooled down significantly after the recent declines.
I would just like to point out that the current moment is crucial and it is from this point that it depends whether we will see a deepening of the five-wave correction or see an upward 3-wave upward movement to new peaks.
Previous:
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