Perhaps there needs to be a collapse for BTC to return to the 92 mark in the near future. 98 may have been the bottom of the correction. 117-120 is very likely in June when interest rates are cut.
Laraine Nuner CwGW
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As per the Elliot wave analysis We have 4 waves, and a 5th wave (113k-120k) Wave 1: 74500-85000 (+10500 price) Wave 2: corrective decrease of 4500-5000 price and then increase 85000 to 7900-80000 and starting to rise, usually wave 2 is a corrective wave Wave 3: will include wave 2, starting from the point of 80000 is the strongest upward wave after the correction of wave 2 80000 rises to 107000 (+27000 price) Wave 4: again a corrective wave. And we are currently in the corrective wave of wave 4
The correction level of wave 4 according to the usual correction will be at 38.2%-50% of wave 3 - 38.2% of 27000 =10400 price 107140-10400= 96740 -50% of 27000= 13500 price 107140-13500=93640
Wave 5: usually +62% of wave 3 or +100% of wave 1. Assuming the bottom of wave 4 = 102000. +62% of wave 3 (+27000 price) = 16700 then the peak of wave 5 =102000+16700=118700 +100% of wave 1 (+10500 price) then the peak of wave 5 =102000+10500=112500
Thus, it is necessary to confirm the bottom of wave 4. If corrected to 96740-97000 then the peak of wave 5 is about 107800-114000
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