Hello
Here is an unfolding possible for the bitcoin, combining Elliott waves and chartism.
The wave 5 could unfold around 54K if counting these waves are correct in terms of location, assuming we just finished a 4 and the 5 is coming to 1.618 as these 54K.
Fibonnacci was placed as a trend continuation (the one with 3 clicks), from point 0 in march, then to the top of the first wave and bottom of the 4, as wave 3 passed its 1.618.
Another chartist reading is that, it can be also seen as an ending bullish flag, reporting the stick giving approx the same target, 54K.
Of course this is not an investment advice.
All the best,
Jim
Here is an unfolding possible for the bitcoin, combining Elliott waves and chartism.
The wave 5 could unfold around 54K if counting these waves are correct in terms of location, assuming we just finished a 4 and the 5 is coming to 1.618 as these 54K.
Fibonnacci was placed as a trend continuation (the one with 3 clicks), from point 0 in march, then to the top of the first wave and bottom of the 4, as wave 3 passed its 1.618.
Another chartist reading is that, it can be also seen as an ending bullish flag, reporting the stick giving approx the same target, 54K.
Of course this is not an investment advice.
All the best,
Jim