$BTC TOP 20
Added 2024-12-14 18:49:07 +0000 UTC$BTC continues to move with the US Market, where we can see a rising wedge on the $SPY chart, we can see a bearish channel on the $BTC chart, also very common in a Wave 5.
Both of these formations are found in Wave 5 where waves overlap each other in an Ending Diagonal, which can only be found in Wave 5.....and Leading Diagonals are only found in Wave 1 (Lesson 4)....and we know that $BTC is not in Wave 1 at new ATH's.
Price is above the 50 and 200 MA on the 1hr chart and all moving averages on the daily chart, so the trend in the short term and EOY remains to the upside, with our target at $109k at the 3.618 Fib
Altcoins are slightly behind as they pulled back to standard Wave 4 levels....while $BTC had a very short sideways moving Wave 4...so Alt Coins still need to catch up and I believe they will.
Comments
What about the thoughts to this when the government purchases?
George Trojaniak
2024-12-14 20:54:13 +0000 UTCI think if $BTC was a hedge against the market then it would be a lot higher right now too, it's a shame it is not....it will likely need many economic cycles to convince people
Gareth Neary
2024-12-14 19:03:04 +0000 UTCI remember when people used to think BTC was a hedge against the market
Joey Bone
2024-12-14 19:01:39 +0000 UTCThis than means miners like clsk and mara and riot will run very soon because I cant imagine them running when btc is pulling back
Bercan
2024-12-14 18:55:05 +0000 UTC
