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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