Bitcoin - Wave 3 - Supermillennium
I believe that Bitcoin has now entered Wave 3 on the Supermillennium cycle due to passing the resistance of the 13.8k zone which lines up exactly with the 0.618 trend based fib extension. It is now completing a minor correction and will continue the full subset of 5 waves within the Wave 3 of he Supermillennium cycle which has a rough target of 27-32k USD.
Another factor to remember is that Wave 2 was a complex combination, so the rule of alternation comes into play, Wave 4 should be a straight forward zigzag and complete in a much quicker timeframe than Wave 2 so we could see Wave 5 by the end of this year pushing Bitcoin to the region of 45-50k depending on where Wave 3 ends and Wave 4 drops.
Another factor to remember is that Wave 2 was a complex combination, so the rule of alternation comes into play, Wave 4 should be a straight forward zigzag and complete in a much quicker timeframe than Wave 2 so we could see Wave 5 by the end of this year pushing Bitcoin to the region of 45-50k depending on where Wave 3 ends and Wave 4 drops.
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