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Bitcoin is in the midst of an intermediate level impulse wave, with the minor wave-2 just completed as a running triple flat pattern. Expect wave-3 to reach the 2.618x level (compared to wave-1) at a price of $81,700 within one or two weeks from now.
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After completing an ending diagonal in mid April, Bitcoin made an abrupt correction which found strong support at the 50% retracement line. The correction took the form of a zigzag in which Wave C was 1.618 times that of Wave A (the Golden Ratio), signifying that the correction has ran its course. The MACD then crossed upward today, providing further confirmation that the correction ended and the price will likely continue its previous upward trend. If you’ve been looking to enter a position on Bitcoin, this is your entry point.
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