#BTC

#Bitcoin from a broader perspective

On the weekly timeframe, Bitcoin has started its final fifth wave according to Elliott's impulsive waves.

Each time it reaches the 50 level on the RSI indicator, it then rises to a new peak and starts a correction when it hits overbought levels, which is above 70 on the RSI.

This means that there are no corrective signals for Bitcoin until it reaches levels beyond overbought on the weekly RSI, which it could reach at the end of the fifth wave at prices of 154,000.

So technically, the chart indicates that there is no real corrective drop until Bitcoin reaches the 154k level, and the parameters may change once it does, but the data remains as it is in front of us for now.

I will keep you updated.

Good luck ❤️