Technical analysis by TradingWithEmotion about Symbol BTC: Buy recommendation (10/16/2021)

Bitcoin has been attempting to breakout of its pennant for quite some time now. Now that it has been confirmed, Bitcoin is headed to new all time highs. When analysing Bitcoins Fib Circles and Speed Trend Line we can assume the first resistance level would be met around the $80K mark (late November/early December) time. That would also indicate a completion of the (5th Elliot Impulse Wave) which would then be followed by a correction to its Fib Circle support area at $60K.After this cycle is complete, the Bull run would continue, creating a bigger picture (3rd Elliot Impulse Wave) which would take Bitcoin to all time highs. Price Target is 110K (late February/early March) next year. Overall very Bullish on Bitcoin right now!