I am not a financial advisor nor expert, please use this idea with caution and always do your own analysis and make a smart decision
In the chart you will see the Elliot wave theory applied to the daily chart of Bitcoin against USD Tether.
We see a scenario for the price loosing momentum as it reaches the 61 867 mark. We can see two scenarios:
1st scenario(Bullish): The price continues over the all time high and reaches the first top of the Eliot wave at 65 000 USDT then corrects to 61 700USDT after that continues to the all time high at target of 70 000 USDT.
2nd scenario(Bearish): Price looses momentum and retraces to 55 000 USDT creating a double top, if then the price can't break the resistance at 61 850 the next move will be bearish with downfall to 50 700 USDT.
If I enter now it would be very risky, I would wait a deep correction to 50 500 USDT and would enter then.
Good look traders and investors,
Dzhan
In the chart you will see the Elliot wave theory applied to the daily chart of Bitcoin against USD Tether.
We see a scenario for the price loosing momentum as it reaches the 61 867 mark. We can see two scenarios:
1st scenario(Bullish): The price continues over the all time high and reaches the first top of the Eliot wave at 65 000 USDT then corrects to 61 700USDT after that continues to the all time high at target of 70 000 USDT.
2nd scenario(Bearish): Price looses momentum and retraces to 55 000 USDT creating a double top, if then the price can't break the resistance at 61 850 the next move will be bearish with downfall to 50 700 USDT.
If I enter now it would be very risky, I would wait a deep correction to 50 500 USDT and would enter then.
Good look traders and investors,
Dzhan