BeyondEdge

BTCUSD Elliott Wave Forecast - Update

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hello everyone,

It's been a good start to the year for BTC . Printing a new high above 42k, BTC has blitzed through my initial targets of 29.8 - 31.7k and 36.2k before falling short of the second extended target of 46.4K (please see linked ideas below).

The target for 46.4k is still possible as well as a further rise into the 50k zone, more on that if/when the level at 46.4k is achieved.

For now I wanted to highlight the possibility that wave 3 may be complete and a correcting structure may soon begin to form (wave 4). If that is the case then we can look for BTC to head into the 27k zone and potentially as low as 22k before beginning to move back up. Let's see how that plays out before looking into the possibility of any deeper corrections.


Follow for further updates. Your 'likes' are much appreciated and your comments are most welcomed.

Thank you for taking the time. Trade safe!

Beyond Edge



Disclaimer

This is not trading advice. All content/ information shared in this idea is purely educational in nature and is expected to be used for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.

You should do your own research and analysis before making any investment decisions. Do not trade or speculate based on the information provided in this idea.

Trust your own analysis.
Beyond Edge

Comments

Thank you. You've been doing some great analysis, and been pretty spot on. Concerning the potential for downside, how can we factor in the potential for ORCL, AAPL and/or CRM investing in BTC over the next month or two? Seems like if even one of these companies does, BTC won't look back. We know Musk is out there protecting his investment by convincing others to join the party. We already know he's met with Ellison.
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