If Elliot Wave theory works, could wave 5 go to about 65,000 usd? Bigger picture ?
In the meantime, there will be ups and downs, now a return to the average, for example the 21 ema can be expected in the short terum, before in de mid long and long term moving higher.
Therefore it is better to wait to step in when BTC reverses to the mean ?
On the weekly chart i notice a bullish symetrical triangle and BTC is holding the 200 WMA nicely. Normally the breakout will occur in the direction of the existing trend which clearly is upwards.
I also studied the stock to flow chart you can watch here: digitalik.net
I think it wil last almost 700 days to reach the all time high after 22.05.20...