Bitcoin is completing a head and shoulders pattern and unlike most people I still see Bitcoin as very bullish. Also, Elliott wave analysis shows that wave 5 is completing. In my opinion, Bitcoin has completed its wave 4 correction at the 0.38 Fibonacci level at $107,000. If the 0.38 level was not enough for a correction, then we should wait for Bitcoin to fall to the 0.50 Fibonacci level, which would be the price limit at $107,000.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.