BITCOIN - Road To +100K!

29 Nis 2023

In our past Bitcoin analysis, we identified that we were in wave 4 correction, which was an irregular flat correction. We had a strict invalidation level present (13.9k) and as long as we were above that level, we would remain bullish. We had a really nice descending trendline which we were monitoring for a break. Price broke out and pushed up more than 80%!

See below for our past analysis:

We look to be in wave 5 now and according to Elliott Wave theory, we should see 5 subwaves.

We are currently in subwave 1 and expecting a subwave 2 correction.

Trade Idea:
- Watch for the ascending trendline to break to indicate subwave 2 has started
- subwave 2 can be traded so if trading, enter on break of ascending trendline with stops above subwave 1
- We'll be monitoring subwave 2 correction for a clear ABC correction
- We should remain above 15.3k so if BTC comes down anywhere near that price, it should be seen as a buying opportunity

We'll be targeting 69k, 85k, 100k and finally, the moon! :)

Goodluck and as always, trade safe!

29 Nis 2023

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