BITCOIN - Next Stop 100K 💸
Recently Bitcoin broke all time highs! We had a trendline in place to identify when the next correction period will come. Price broke the trendline and it appears we will be making an ABC correction back to one of the fibonacci levels before the next big impulse which will see Bitcoin soaring!
In Elliot wave theory, wave 3 cannot overlap wave 1. Therefore the bullish outlook will be invalidated if we fall below 53K.
Currently the best bet would be only long opportunities but there may be opportunities to short Bitcoin for the short term back to the fib levels. Watch for clear bear flags if you're entering for the short term.
We are looking for buying opportunities between the 54k to 57k.
In Elliot wave theory, wave 3 cannot overlap wave 1. Therefore the bullish outlook will be invalidated if we fall below 53K.
Currently the best bet would be only long opportunities but there may be opportunities to short Bitcoin for the short term back to the fib levels. Watch for clear bear flags if you're entering for the short term.
We are looking for buying opportunities between the 54k to 57k.
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