In this article you will know what is the targets for BTC ETH and BNB for the bull market.
The current Bitcoin market cycle has proven to be one of the most intricate to decipher, catching even the best crypto traders off guard. The skepticism persisted until the price surpassed $15,500, with many traders and bloggers only seriously considering the possibility of a bull market after Bitcoin broke $52,000 several days ago. It's understandable, as many crypto trading strategies hinge on trend analysis, and until the price exceeds the all-time high (ATH), the prevailing sentiment often leans toward a bear market. This reliance on historical trends can be a lagging indicator of a trend change, emphasizing the need to stay present in the current market moment and comprehend unfolding events.
Bitcoin
The AI trading bot on the Skyrex crypto trading platform made a significant move, shifting to bullish settings when Bitcoin broke the $32,000 mark. From our perspective, this should have marked the end of bearish expectations. Now, let's delve into what to anticipate from Bitcoin in the near future.
Examining the Elliott wave structure for Bitcoin on the monthly time frame, the Awesome oscillator, in tandem with waves, forms a robust trading crypto strategy. The maximum value of the Awesome oscillator aligns with the top of wave 3. Despite a reactive wave 4 retracing to $15,500, it didn't overlap the top of wave 1, preserving the core Elliott waves axiom.
While the price is anticipated to break its all-time high soon, a potential bearish divergence may arise as the new Awesome oscillator top is lower than the previous. The target zone for wave 5 is $79,000, calculated based on the distance between wave 1's bottom and wave 3's top, measured from wave 4's bottom. A bearish reversal bar with divergence is expected in this zone for a potential reversal.
Ethereum
ETH mirrors a similar wave structure to BTC, currently attempting to breach the 0.61 Fibonacci retracement zone. This breakthrough could propel Ethereum to new ATH, with the target for the last wave set at $5,700. Observing the price action when ETH reaches this level will provide further insights.
Binance Coin
Despite the FUD surrounding Binance exchange, BNB emerged as one of the strongest assets in the bear market, concluding its correction earlier than the broader crypto market. The Elliott waves structure here closely resembles that of ETH and BTC, with the final target for wave 5 set at $870.
Best regards,
Skyrex team
The current Bitcoin market cycle has proven to be one of the most intricate to decipher, catching even the best crypto traders off guard. The skepticism persisted until the price surpassed $15,500, with many traders and bloggers only seriously considering the possibility of a bull market after Bitcoin broke $52,000 several days ago. It's understandable, as many crypto trading strategies hinge on trend analysis, and until the price exceeds the all-time high (ATH), the prevailing sentiment often leans toward a bear market. This reliance on historical trends can be a lagging indicator of a trend change, emphasizing the need to stay present in the current market moment and comprehend unfolding events.
Bitcoin
The AI trading bot on the Skyrex crypto trading platform made a significant move, shifting to bullish settings when Bitcoin broke the $32,000 mark. From our perspective, this should have marked the end of bearish expectations. Now, let's delve into what to anticipate from Bitcoin in the near future.
Examining the Elliott wave structure for Bitcoin on the monthly time frame, the Awesome oscillator, in tandem with waves, forms a robust trading crypto strategy. The maximum value of the Awesome oscillator aligns with the top of wave 3. Despite a reactive wave 4 retracing to $15,500, it didn't overlap the top of wave 1, preserving the core Elliott waves axiom.
While the price is anticipated to break its all-time high soon, a potential bearish divergence may arise as the new Awesome oscillator top is lower than the previous. The target zone for wave 5 is $79,000, calculated based on the distance between wave 1's bottom and wave 3's top, measured from wave 4's bottom. A bearish reversal bar with divergence is expected in this zone for a potential reversal.
Ethereum
ETH mirrors a similar wave structure to BTC, currently attempting to breach the 0.61 Fibonacci retracement zone. This breakthrough could propel Ethereum to new ATH, with the target for the last wave set at $5,700. Observing the price action when ETH reaches this level will provide further insights.
Binance Coin
Despite the FUD surrounding Binance exchange, BNB emerged as one of the strongest assets in the bear market, concluding its correction earlier than the broader crypto market. The Elliott waves structure here closely resembles that of ETH and BTC, with the final target for wave 5 set at $870.
Best regards,
Skyrex team
Skyrex.io is an AI-powered platform designed to make professional-level cryptocurrency trading effortless and accessible for everyone
Access free SmartTrade terminal and automated AI bot at app.skyrex.io
Access free SmartTrade terminal and automated AI bot at app.skyrex.io
