Bitcoin and Elliott Wave Theory
The recent analysis of Bitcoin's price action shows a compelling Elliott Wave pattern that indicates a possible final leg breakout. The chart provided highlights the completion of waves 1 through 4, suggesting that Bitcoin might be poised for the fifth and final impulsive wave.
Zooming in, many have also noticed the inverted head and shoulders pattern, which also indicates a bullish narrative.
Evidence Supporting the Breakout:
-RSI: Showing low numbers similar to previous great pushes.
-Daily Cycle Low: Most likely confirmed.
-ETH ETF Launch: Expected to boost crypto volume.
-BTC ATH: Will attract attention and spark news, starting the mania phase.
-M2 Money Supply: Uptrend indicating increased liquidity to boost assets.
-BTC Halving Cycle: Suggests an impending euphoria phase.
-Fear/Greed Index: Indicates the market is ready for a new push.
These factors collectively suggest that Bitcoin is ready for a significant upward move, potentially leading to new all-time highs.
Zooming in, many have also noticed the inverted head and shoulders pattern, which also indicates a bullish narrative.
Evidence Supporting the Breakout:
-RSI: Showing low numbers similar to previous great pushes.
-Daily Cycle Low: Most likely confirmed.
-ETH ETF Launch: Expected to boost crypto volume.
-BTC ATH: Will attract attention and spark news, starting the mania phase.
-M2 Money Supply: Uptrend indicating increased liquidity to boost assets.
-BTC Halving Cycle: Suggests an impending euphoria phase.
-Fear/Greed Index: Indicates the market is ready for a new push.
These factors collectively suggest that Bitcoin is ready for a significant upward move, potentially leading to new all-time highs.
ملاحظة
DCL was a little lower than first anticipated, but we are still on our way for the 5th of the 5th.
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.