COINBASE:BTCUSD   Bitcoin / U.S. Dollar
As you know guys I am a Elliott Wave fan. BTC is extremely bullish and we have few nice months ahead. I caught in the moment 2 days ago and i was waiting for a retest of the 37k as i expected the market to be a little more weak. However i missed the 41 to 44k k push and i have now re-entered the market at 42 k. As you can see i highlighted the intermediate Elliott wave count and the current minor Elliott wave count. So talking number, I am going to take SOME profit out of the market at the 52-54k k region depending on the type of signal i will receive from the chart. The target are based on the 0.618 - 1 fib extension, which are the targets for the 5th wave of the Elliott Wave count. To be noted that the intermediate fib target levels (green) is almost perfectly the same as the Minor fib targets levels (purple). Considering the intermediate EW the target is this region where we are now, however the possible extension is at 54k which is also the target of the minor. The intermediate seems to be already completed, however by counting the minor EW we can appreciate that the intermediate is not complete yet. Now what do i expect very short term. BTC to start the run up to 52 - 54 k anytime soon, when the region is approached i will look for clues of possible retracement. If it is confirmed i see the 42 k region as a floor, However this will need to be carefully checked when the time comes.
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