By following Elliott Wave Theory, BTC is currently at the end of a fifth-wave increase that has been ongoing since the beginning of 2023, this theory suggests a five-wave increase is observed before the end of a bullish trend.
The market is in the final phase of its bullish cycle, suggesting it might be wise to book some profits. However, rather than a complete exit from the market, one should keep some flow in the market, there is potential for a rebound driven by FOMO regarding strength indicators.
Currently, Bitcoin is trading at $103,935. Here advice for investors is to stay prepared for possible market fluctuations as they evaluate the overall market outlook.
Lastly, while there may be some positive signals in the market, it is crucial to acknowledge that the overall market trend is approaching its peak, and we should pay caution. one must closely observe the market and set their trades accordingly.
Happy Trading 😊
