Coinbase Update: Should head higher with BTC

As the title suggests BTC is headed higher in its wave v. Without going too much into it, the wave v target for BTC right now is anywhere from $50k-$70k. This, IMHO will help to drive up Coinbase even more and pairs nicely with my predictions. If you look at the top right of the chart you can see my wave v of (i) label. This shows my price target for this part of the count should hit around $153 before starting its wave (ii) retrace. We won't go straight there obviously but should hit there before a meaningful retrace.

My thoughts for where we head next is around the 1.618 extension @ $147.34. After this we should have a small retrace for iv to the area of the 1.0 @ $138.21 before raising for v of (i). At this time MACD supports this count. Notice how it made a new high at our wave 3 top and came down to the zero line? If you read my Tesla post from tonight, you would notice I mentioned wave 4's typically don't go very far below the zero line if at all on the MACD. Look at the MACD on this chart.

Something to remember, we're still in the primary wave ((3)), so extensions should be expected. If y'all bought in around the same time as me, then you're already up $20+/share. That's almost a 15% profit and this count has just started. My trading plan is to hold until we top and then sell. Once we get the 3-wave retrace for (ii) I'll buy back in even more. If (i) tops at the 2.0 extension, then I expect price to drop back down to the $130's for wave (ii). Until then that is just speculation. Let's wait for price to prove this count right or wrong.

Don't forget, beginning February 23rd, I will be dramatically changing my posting schedule here on trading view. My last regular post / update will be on that day.

Comment:

Made it to the target box. A retrace next would be standard