Bitcoin with a Wave 4 in process. Target $39.750-$36.862
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As per Elliott´s Wave theory, #Bitcoin´s rally is a clear Wave 3 which might have topped at $49.105 (where it found prior 2021 resistance zone). The Daily EMA55 has been holding back the necessary correction (oxygen after a 98.76% rally measured from Aug 14, 2023). Until now... Although the current wave is barely Wave A out of ABC (Wave 4) we would be headed towards the $39.750-$36.862 price range target area. Short daily, Short 4hourly and 1 hourly. Long weekly. Wave 5 would take us towards 60k and beyond. Last purchase opportunity? Not really, shorts should exit at the defined target area (which is also close to bitcoin´s mining cost -$36.500), we would then have an upwards wave B (this will confuse shorts) and finally make one more wave downwards: Wave C. We will follow up on this once Wave A is finished.
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