Bitcoin: The Hidden Secrets of Digital Gold

Let's examine the daily Bitcoin BTCUSDT chart to identify potential developments. There are several scenarios that we need to consider now!

1️⃣ Firstly, we have the possibility that we are still moving inside of our Wave 4 (in red). In this case, we need to ensure that we go beyond the 61.8% level at a minimum to gain more clarity.

2️⃣ Alternatively, it could be that we bounce off the 61.8%, move downward again, and reach a lower low, meaning we are completing our alternative scenario (alt. 4).

3️⃣ A third possibility is that we have already completed our main Wave 3 (in blue) earlier, and a bigger Wave 4 is currently unfolding. In this case, the price could drop significantly lower than originally anticipated.

The precise development remains to be seen, but we will keep you updated and adjust our scenarios as necessary. 📊📈🚀

Trade active:

We are more than 20 % in profit since our entry and are retesting the support level at around $ 48400 (green line). If we can not hold this level as a support, there is a high probability for a flat correction back to our entry level (alt. 4 scenario on red).
Anyway, we are bullish on Bitcoin and should see further higher highs in the coming weeks.

Comment:

Bitcoin (BTCUSD): BTCUSD

We have seen the first sign of some kind of weakness now in BTC. It has dropped the last two days by 2,1%. Which is comparatively nothing but the 138% level has to be flipped to get the bullish scenario. Such days will make it much harder for BTC. We are still patiently waiting, no need to panic.

Daily Chart:

4H Chart: