Then in line with the Elliott Waves chart pattern analysis, it suggests a forthcoming minor correction for Bitcoin, with one of the legs down anticipated around $47,800.
However, the stock market is currently experiencing a notable surge in calls for tech companies leading up to June 21. I speculate that this could align with the first interest rate cut, sparking a new wave of enthusiasm in the market.
Given this scenario, if Bitcoin follows the trajectory of NASDAQ stocks, my projection is that BTC will ultimately reach $56,000 by mid-2024.
Trade closed: target reached
⋅
BTC June Price Target reached sooner than expected!