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#Bitcoin Chart Analysis for #Today
Yesterday, I expected a correction after one wave up. However, instead of a correction, Bitcoin continued with a larger upward movement, making me realize my wave count was off. Naturally, the outcome differed from my expectations.
Overall, I believe this latest rise marks the end of an extended wave within the third wave. For a clear understanding, you can review the chart progression across different time frames, from the 4-hour chart, then 2-hour (split into two views), and down to the 30-minute chart.
I interpret this as two different types of upward movement following the completion of a WXY correction. Both scenarios suggest we’re in an uptrend. For short-term trading, I anticipate a minor correction and short-term uptrend on the 30-minute chart, which will likely lead to a larger correction afterward.
While exact prices are uncertain, it’s likely that the previous high will be retested soon. To confirm a true bull market, Bitcoin would need to break through at least $80,000.
For ongoing chart analysis, please follow.
#Bitcoin Chart Analysis for #Today
Yesterday, I expected a correction after one wave up. However, instead of a correction, Bitcoin continued with a larger upward movement, making me realize my wave count was off. Naturally, the outcome differed from my expectations.
Overall, I believe this latest rise marks the end of an extended wave within the third wave. For a clear understanding, you can review the chart progression across different time frames, from the 4-hour chart, then 2-hour (split into two views), and down to the 30-minute chart.
I interpret this as two different types of upward movement following the completion of a WXY correction. Both scenarios suggest we’re in an uptrend. For short-term trading, I anticipate a minor correction and short-term uptrend on the 30-minute chart, which will likely lead to a larger correction afterward.
While exact prices are uncertain, it’s likely that the previous high will be retested soon. To confirm a true bull market, Bitcoin would need to break through at least $80,000.
For ongoing chart analysis, please follow.
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