Bitcoin should have a choppy but explosive weekend, which may ultimately get erased as soon as the global markets re-open next week. It may take a week or so, but Bitcoin should reach the
48K
range before losing steam and returning under $30,000 briefly.
Comment:
Comment:
$56K by March?
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The diagonal wave I've been tracking is possibly already finished.
There is also a possibility that it is not, however, thanks to Elliott Wave Theory, there are a couple of things to look out for that will provide further clarity.
1. If the diagonal wave is done, a drop/retracement back to the levels of Wave 2 should be accelerated.
2. If the drop is slow and sideways, we can expect support near $42.3 and for the upside waves to continue to $48K.
A drop below $40.5K invalidates all upside possibilities until support is discovered below $27K.