Path to >80k
Bitcoin looks to have bottomed in wave (3) of ii. The current move up is targeting the red (C) of (4) in the 60700-61900 zone. If it can get through there, it has already bottomed. If not, there is a setup for one more low to the 51400-54500 area as a bottom in (5) of ii.
From there, need to see a impulsive wave back up, that would target the 87000 are for the top of iii.
The MACD on the 4hr timescale has positive divergence and is favoring a bounce. The 61900 price threshold will determine if this is 'more than (4).
From there, need to see a impulsive wave back up, that would target the 87000 are for the top of iii.
The MACD on the 4hr timescale has positive divergence and is favoring a bounce. The 61900 price threshold will determine if this is 'more than (4).
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