Concerns about Bitcoin’s recent decline, driven by fear and a risk-off attitude due to Middle East tensions, have arisen. However, this appears to be a healthy correction within the ongoing uptrend, ahead of the upcoming halving. On a daily chart we are currently observing wave III after recent extension and there can be space for more upside, so after current subwave 4 correction, the uptrend for subwave 5 of III may resume.
I think wave 4 is on the 52K - 50k. What do you think?
ew-forecast
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@MyCryptoParadise a bit dip but still fine. cryptos are volatile much more than some other assets
BitWave
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I think wave V is higher than 140K, Alt season is coming next month.
ew-forecast
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@BitWave, can be, but I rather go step by step, focusing firstly on closer target. BTW, thx for the comment!
unbeldi
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The halving has nothing to do with this technical correction.
ew-forecast
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@unbeldi, you need catalyst and events for corrections to resolve, because that what makes investors to make new decisions, and price then reacts based on changes of supply and demand.