Bitcoin analysis update [By Ivan | Skyrex]
Hello, dear friends!
I've received numerous requests for a Bitcoin analysis. For the past couple of months, I haven't manually executed trades. The sole reason I'm creating this post is for you, my dear followers!
Now, let's dive in! The global scenario has me a bit confused, but I can certainly tell you that a price range between 40k and 48k is likely to unfold in the next 2-3 months.
I'm considering a 5 Elliott waves cycle on the local 4-hour chart. It appears that we've reached the end of wave 3 of any degree, confirmed by a bearish reversal bar. Therefore, expect a retracement to the 0.38 Fibonacci level, approximately 41k. Afterward, a pump to 45-46k is likely before a significant correction.
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I've received numerous requests for a Bitcoin analysis. For the past couple of months, I haven't manually executed trades. The sole reason I'm creating this post is for you, my dear followers!
Now, let's dive in! The global scenario has me a bit confused, but I can certainly tell you that a price range between 40k and 48k is likely to unfold in the next 2-3 months.
I'm considering a 5 Elliott waves cycle on the local 4-hour chart. It appears that we've reached the end of wave 3 of any degree, confirmed by a bearish reversal bar. Therefore, expect a retracement to the 0.38 Fibonacci level, approximately 41k. Afterward, a pump to 45-46k is likely before a significant correction.
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