BITCOIN and Elliott Wave Forecasting

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 BTC daily chart


Analysis

From the above chart, prices are moving in a higher highs and higher lows and it is in a stealth uptrend thereby opening positive possibilities going ahead.

As per Wave theory, prices are moving in an impulse fashion where wave iii of wave iii is extended also known as extension within extension. This entire up move has the tendency to reach towards $48000-$50000 minimum.

As of now prices can consolidate in the range of $31600-$29800 levels, one the above extreme breaks it is likely that the crypto can soar till $35000-$38000 price zone.

The summation is Bitcoin is likely to move till $35000-$38000 zone once the level of $31600 is taken out decisively.

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