Bitcoin has reached another high point. According to the one-hour Fibonacci retracement, 0.786 is 96317 and 0.618 retracement is 94693, both are entry opportunities.
As always, buy on dips and set a stop loss at 94000.
According to the five-wave theory, we are currently in the third wave, the strongest wave. The target price is not much different between the weekly and four-hour charts, approximately between 127000-129000.
Why did institutions push the price up to 94000 this morning? Because they are confident in pushing the price to 170000-200000. The reason the price has not seen a major correction is that the entry price for institutions is already so high, they are unlikely to let you buy at a price lower than theirs. The prices available to buy in the future will only get higher.
So there’s no need to worry about the price being too high. After next week, basically, you won’t be able to buy Bitcoin below 100000. The price below 100000 might be the last opportunity for retail investors provided by institutions.
Cherish the last entry opportunity, everyone.
