#Btcoin
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Bitcoin analysis on the medium term:
🪙BTC/USDT
Bitcoin on the larger timeframes like the daily and weekly has formed four waves on the upward trend that has been established since October 15, 2023, and until now, it respects that trend.
Staying above this general trend indicates that we are still in an upward wave dominated by Bitcoin only.
There is one final fifth upward wave remaining before we see a strong correction for Bitcoin, targeting $126,000.
For your information, it is not necessary for wave (5) to achieve a new peak; most fifth waves are satisfied with reaching the peak of wave (3).
Therefore, the target of $126,000 requires closing two weekly candles above $110,000 (the peak of wave three).
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