#Bitcoin has reached its all-time high and faced rejection, so w
Using a technical indicator called the Wyckoff method, I've created a chart for you. Currently in phase C, we expect Bitcoin to retest its all-time high and reach overbought levels before experiencing a deep correction. Apart from the Wyckoff method, in Elliott Wave Theory, we also anticipate the completion of the fifth wave, which is the internal wave of the fifth wave.
As Bitcoin reaches a new all-time high, we expect altcoins to enthusiastically follow this rise and create FOMO in the market. When the entire market reaches overbought territory, it's time for investors to consider turning to cash.
While the testing range for Bitcoin is between $74k and $75k, with FOMO, we might see a maximum deviation of up to 5%, but I don't expect more in this cycle. The chart drawn will be invalidated if daily closes fall below $60k.
Stay tuned for more detailed analyses ;)
As Bitcoin reaches a new all-time high, we expect altcoins to enthusiastically follow this rise and create FOMO in the market. When the entire market reaches overbought territory, it's time for investors to consider turning to cash.
While the testing range for Bitcoin is between $74k and $75k, with FOMO, we might see a maximum deviation of up to 5%, but I don't expect more in this cycle. The chart drawn will be invalidated if daily closes fall below $60k.
Stay tuned for more detailed analyses ;)