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BTC: Obstacle ahead....will go through
Alright, so the ultimate target is 125000€, but before that, BTC has a challenge to overcome.
We're in the final wave of a cycle started in 2011 (I know, this Kraken data goes back to 2013, check Bitstamp) and there still is room to rise.
However, this summer should see a chaotic time with a drop from an expected top at 66700€ down to a first support at 38000€.
A word of warning on this expected obstacle:
- wave 2 of (3) was shallow...so wave 4 of (3) could be deep and that leads to an intermediate trough at 29000€ minimum. Humm, I don't like it, don't want to believe in it!
Anyhow, current trend is in a wave 3 of (3) of [5] so higher highs are expected towards the end of 2021.
wave (4) of [5] is expected by mid-August.
We're in the final wave of a cycle started in 2011 (I know, this Kraken data goes back to 2013, check Bitstamp) and there still is room to rise.
However, this summer should see a chaotic time with a drop from an expected top at 66700€ down to a first support at 38000€.
A word of warning on this expected obstacle:
- wave 2 of (3) was shallow...so wave 4 of (3) could be deep and that leads to an intermediate trough at 29000€ minimum. Humm, I don't like it, don't want to believe in it!
Anyhow, current trend is in a wave 3 of (3) of [5] so higher highs are expected towards the end of 2021.
wave (4) of [5] is expected by mid-August.
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