Quick update/analysis worth noting on BITCOIN. Courtesy BITSTAMP M1 chart
Correction for bitcoin since 2012 has coincidentally maintained a uniform retracement of 77% to 86%. The most recent retracement being that of wave C, 77%. Though impulse move have also reduced thanks to the involvement of big financial players, lesser volatility & some sort of regulation.
So the last impulsive wave C was roughly 2.1k% compared to impulsive wave B of 12.8k% and impulsive wave A of 50k% respectively.
Currently wave D is just a little over 340% and in the long term has a potential to reach 1.4k% i.e. (200k - 250k) by end Dec. 2025 as it is obvious bitcoin is in an ascending channel. No doubt there will be pullbacks along the way even now as a bump and run pattern & double top is about presenting itself on the W1/D1 charts respectively and if it falls back into that resistance of 65k level it could retrace down to 54k-55k level. If not a break above the 73k high, next likely targets will be around 78k-81k which ever one happens first. But be rest assured whales are lurking around to mop up and leave you with nothing.
Correction for bitcoin since 2012 has coincidentally maintained a uniform retracement of 77% to 86%. The most recent retracement being that of wave C, 77%. Though impulse move have also reduced thanks to the involvement of big financial players, lesser volatility & some sort of regulation.
So the last impulsive wave C was roughly 2.1k% compared to impulsive wave B of 12.8k% and impulsive wave A of 50k% respectively.
Currently wave D is just a little over 340% and in the long term has a potential to reach 1.4k% i.e. (200k - 250k) by end Dec. 2025 as it is obvious bitcoin is in an ascending channel. No doubt there will be pullbacks along the way even now as a bump and run pattern & double top is about presenting itself on the W1/D1 charts respectively and if it falls back into that resistance of 65k level it could retrace down to 54k-55k level. If not a break above the 73k high, next likely targets will be around 78k-81k which ever one happens first. But be rest assured whales are lurking around to mop up and leave you with nothing.