As per my previous prediction(see image below), price appears to be retracing. If it continues to play out, I think we could drop to one of two places.
55,000 USD
I think we are likely to move up from this point as I think we might bounce off a strong trend line (shown in the chart).
51,000 USD
This is another option as there is allot of support at this level.
From either of these two points, I think we are going to move upwards and push passed the previous all time high.
If this plays out, we will see the first leg of the Elliot Wave.
The previous 1st wave saw an increase of just over 100%(see the chart). It took a month to complete and happened in December of 2020.
Another promising sign is the the ascending triangle that appears to be forming.
Thoughts welcome...
Earlier prediction...
55,000 USD
I think we are likely to move up from this point as I think we might bounce off a strong trend line (shown in the chart).
51,000 USD
This is another option as there is allot of support at this level.
From either of these two points, I think we are going to move upwards and push passed the previous all time high.
If this plays out, we will see the first leg of the Elliot Wave.
The previous 1st wave saw an increase of just over 100%(see the chart). It took a month to complete and happened in December of 2020.
Another promising sign is the the ascending triangle that appears to be forming.
Thoughts welcome...
Earlier prediction...
