BTC wave analysis

BTC wave analysis

Bitcoin / U.S. dollar BITSTAMP:BTCUSD


Hello everyone. I apologise for not updating you in the last 3 days. I was getting ready for the end of my MSc in genetic and nutrition…Finally complete!!!
Anyway, BTC has tried to push to 60k. However, it fell shy of 2k and retrace to the expected level at 54k . In there, strong buying pressure was revealed with high volume in the 54-56k area. BTC has now broken a small diagonal resistance. In this chart, you can see an in-depth Elliott wave analysis. Please follow the numbers to understand each wave cycle and appreciate that each wave comprises subsequent 5 sub-waves. Ralph Elliott developed this amazing theory and has proven true in markets for the last 100 years.
Now getting back to the next targets. As you know, I am expecting BTC to reach 74-75k by the first 2 weeks of November following the breakout of the Cup n Handle. Also, this target can be found in the Elliott Wave analysis, as you can see from this chart. The ultimate target will be between 150k and 185k, with 150K the conservative target and 185 the expected one. If the waves stretches can go much higher. In the next 10h we may see a minor pullback to 56200 before completing the 3rd minute wave at 65k . You can also appreciate that I have drawn the Elliott wave Channel that can be used to check the targets for peaks and retracement in the waves.
SO the progression will be
65k , 74k, 102k, 124k, 150k, 185k
these are the major peaks, I won’t state here the retracements, but if you check in the chart here, they can be spotted.
These are my predictions. Remember to add some flexibility as I do not have a crystal ball and cannot see in the future, so everything needs to be reassessed constantly. However, I can tell you that 74k, 102k, 150k, 185k are very likely.
If you have any questions, please feel free to COMMENT below
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