Deciphering Bitcoin's potential Next Moves
2024-02-20
Category: None

Following up on our previous ETF analysis, we had forecasted a potential surge in Bitcoin's price, pinpointing an optimal buy-back range around $40k with a target set at $57k post-ETF approval effects. 

This prediction has unfolded remarkably well, aligning closely with our expectations. For an in-depth review of our initial analysis, visit the following link:


In the wake of the ETF approval, the cryptocurrency domain has witnessed significant capital inflows, bolstering the overall market capitalization and reinforcing Bitcoin's robustness.

Our current analysis shifts focus to delineating the potential terminus of the ongoing Wave 3 leg. We project a zig-zag pattern, characterized by an ABC formation (highlighted in yellow on the chart), with targets anticipated at approximately $60k and  FWB:65K , respectively. A pivotal demand level identified around  GETTEX:48K  merits attention, potentially serving as an immediate buy-back zone should the price revisit this threshold.

As Wave 3 concludes, we anticipate the commencement of Wave 4, expected to be a rapid descent with targets ranging from $37k down to a critical support zone at  FWB:31K , where a concealed level lies.

 This analysis will be subject to updates in alignment with market developments. 

Engagement through comments and appreciations of this analysis are highly welcomed and encouraged.