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Bitcoin BTC-USD Elliott Wave Technical Analysis - TradingLounge


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Bitcoin BTC-USD Elliott Wave Technical Analysis - TradingLounge
Summary: Bitcoin's high is expected around 25k as Wave 1 or C
Elliott Wave: Wave iii) 
Strategies: No Strategy / Exit Longs next high or hold for 25K

Bitcoin CME Futures contracts are still 25% shorts over 6% longs and with diminishing volume in the current trend upwards will see this market turn around the $25,000 price level.
In terms of the TradingLevels the 25K is the Medium Level and will not only play a strong resistance, but is in line with a top for the Elliott Wave count terminating around the 25k price point.
Expect a top at around the 25k, this top will also coincide with other global Indices markets including the EURUSD, GBPUSD, AUDUSD topping out

Analyst Peter Mathers TradingLounge™ 

 

 

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