) continued to follow the fractal with the January 2021 correction, and based on our Elliott Wave Principle analyses, we found that
“… we should expect BTCUSD to bottom out at around $57.5K, close to the $55080 level mentioned earlier and the $54-57K target zone for the grey W-c. Of course, BTCUSD does not have to follow the same path as in 2021 and could have already bottomed out … more likely, it may provide us with a flat correction, which targets ~$74+/-1K first, then drops back to ~$60+/-1K before liftoff.
Fast-forward, and BTCUSD topped on April 8 at $72750, dropped, and over the last three to four days, it has been trading around $62+/-1K. Thus, our forecast for “a flat correction, which targets ~$74+/-1K first, then drops back to ~$60+/-1K before liftoff,” has come so far to fruition. That is the power of the EWP because few, if any, foresaw this path. Moreover, our analysis of this correction, which we started covering in, has so far not been disproven.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.would like to remind you that the data contained in this website is not necessarily real-time nor accurate.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Investingcom - 🏆 450. / 53 Read more »
Source: FXStreetNews - 🏆 14. / 72 Read more »