BTCUSD Elliott Wave Forecast - Wave 3 Price Prediction

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

First and foremost, well done to everyone who has hodled through the bear run. It has most definitely been a true test of an individual's investor stamina.

As promised, it's time to take a closer look at wave 3 with the view of establishing more accurate price forecasts. In my previous ideas, I had initially provided rough counts for wave 3 to be between $33 - $38k with a possible extension into the $50k zone (please see linked ideas below).

Bitcoin is in pure price discovery mode with no level above to target as previous support or resistance. How high can it go? In my opinion, 24.3k is the next short term price level to challenge. A successful break of that level could very easily propel BTC towards my initial Wave 3 projection of 29.8k - 31.7k.

The FOMO and publicity it attracts has meant that BTC has developed a tendency to overshoot in bubble like fashion over the years. That being said, I feel that there is a high probability that BTC can achieve a Wave 3 extension level. The first of these extended Wave 3 projections is at 36.2k. There are two further extended projections, more on those level later.

Follow for further updates. Your 'likes' are much appreciated and your comments are most welcomed. I'm interested in seeing what your price forecasts are.

Thank you for taking the time. Trade safe and always remember to plan your trade and trade your plan!

Beyond Edge


This is not trading advice. All content/ information shared in this idea is purely educational in nature and is expected to be used for analysis and illustration purposes only.

Do not trade or speculate based solely on the information provided. Trust your own analysis.

Beyond Edge
Trade active: A couple of tests over the weekend on the 24.3k level as mentioned above. Possibly some more sideways action just below this level before moving upwards. Let's see how it plays out.
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