Long

Bitcoin Consolidates!! Buying Opportunities!!

Bitcoin hit a relative high at 39K. After that it retraced and may be exhibiting a corrective phase from a nested Elliott Wave impulse beginning at 32K. If that is the case we can expect a retracement to 36.2K or 35.4K, before another burst of momentum. Bitcoin appears to be consolidating between technical and Fibonacci levels between 36.7K and 37.7K. If that is the case, we would not expect a retracement, but a sideways correction leading to an eventual breakout. Either way, we are bullish of Bitcoin and will be loading up at the levels mentioned. A healthy breakout will place us back to 40K

quantguy

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by quantguy

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