Hello everyone, let's discuss and strategize with me today!
Overall, BTCUSDT continues to trade in an upward trend. Strong support at $63,800 has fueled impressive price increases in a stable bullish channel on the H4 timeframe. Currently, BTCUSDT is trading around the $70,375 mark, with the possibility of correction.
On the H4 chart, BTCUSDT volume is still decreasing. Using Fibonacci from Tradingview I expect the price to hit 0.618 (67,225) and 0.5 (65,996) where the line touches the active bullish channel. At the same time, EMA 34.89 continues to strengthen the market's upward trend. I expect the price to recover after this correction. And you, do you expect a wave of price increases?
It is expected that this price increase will reach the mark of 73,800 USD followed by a new ATH in the area touching 1,618, which is 77,639 USD.
The structure at the market top in your chart is an Elliott triangle in fourth wave. There is only one direction out of it and that is up in wave five. Why you would paint the opposite is the real puzzle.
unbeldi
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The direct target of the fifth wave should be either 74.6 k, or around 77 k.
MyCryptoParadise_Simon
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price fisrt visit 0.5 fib level and then go upward