Bitcoin potential Bullish Move Extended to 80k and onwards
Hi Everyone,
First time posting my analysis and prediction for Bitcoin as a newbie. Tools used for this:
1. Fibonacci
2. Elliot Wave
3. Fibonacci Time Zone
On a Macro Level, I see potential Elliot Wave forming for Bitcoin and poised to go and touch 80k and onwards.
Scenario 1: Currently we're seeing a retracement after Bitcoin's ATH (All time high) and expect it to bounce from 57k (based on the 38.2 Fib zone) and potentially either on the 29th or 30th of October (could be a day or two before or ahead). This would indicate a strong upward trend.
Scenario 2 (Orange Lines): The price might drop down to the 50.0 Fib zone at the 53k to create the previous high of wave 1 as support and bounce up which in this case will also invalidate the Elliot Wave drawn here. Dates for the move to the update remain the same as scenario 1 (give or take).
23rd - 26th October are bearish days for Bitcoin as it retraces to play out either scenarios mentioned.
I'm an avid learner, sharing my knowledge and analysis, and willing to share ideas, learn, and grow.
P.S I'm sure a lot of other analysts probably see the same thing.
First time posting my analysis and prediction for Bitcoin as a newbie. Tools used for this:
1. Fibonacci
2. Elliot Wave
3. Fibonacci Time Zone
On a Macro Level, I see potential Elliot Wave forming for Bitcoin and poised to go and touch 80k and onwards.
Scenario 1: Currently we're seeing a retracement after Bitcoin's ATH (All time high) and expect it to bounce from 57k (based on the 38.2 Fib zone) and potentially either on the 29th or 30th of October (could be a day or two before or ahead). This would indicate a strong upward trend.
Scenario 2 (Orange Lines): The price might drop down to the 50.0 Fib zone at the 53k to create the previous high of wave 1 as support and bounce up which in this case will also invalidate the Elliot Wave drawn here. Dates for the move to the update remain the same as scenario 1 (give or take).
23rd - 26th October are bearish days for Bitcoin as it retraces to play out either scenarios mentioned.
I'm an avid learner, sharing my knowledge and analysis, and willing to share ideas, learn, and grow.
P.S I'm sure a lot of other analysts probably see the same thing.
Consider it as scenario 3.