๐Ÿ”ฅ Bitcoin's Fibonacci Break Out

It appears that Bitcoin (and the rest of the crypto market) is showing strong signs of recovery since the dump of last night.

Recently, I made another post about the state of Bitcoin. In this post I argued that Bitcoin would rise again after the big sell-off, but then fall down again to complete the Elliot wave. Seeing the current price action, I highly doubt that the 55k area will be the area of reversal. Next potential area of reversal will be 58k, the golden fibonacci ratio of 0.618

๐Ÿ”ฅ Bitcoin Elliot Wave Pattern: Corrective Wave


For now, I'm expecting a small pull-back soon, after which the strong bullish push of BTC will continue. If price action remains strong, we might not even reverse at all and aim for a new ATH in the coming weeks.

Happy trading!
Bitcoin (Cryptocurrency)BTCChart PatternsTechnical IndicatorsTrend Analysisusdt

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