In order to be able to have a detailed study on the Bitcoin chart, we drew the chart in logarithm, so that we can have an accurate wave count for it.
As you can see in the weekly chart, the price is in a complete uptrend channel, in which the price by hitting the bottom line of the channel has started the increasing price trend in wave 3 from the 5th point. In addition, by break down the downtrend line, this scenario has been confirmed. Bitcoin's one-year target would be close to $ 250,000, which is not an implausible goal.
( Weekly Chart )
In the daily chart and by over reviewing the structure of the last uptrend which has started from the range of $ 3850. We see that we are in wave iii from point (i), this (i) wave can continue up to the target of $ 20,000, till the uptrend become fully confirmed
Also, due to the very high demand for bitcoin, we will probably have a very short corrective movement in the range of $ 20,000, and a very strong uptrend forming for the target of $ 100,000 to $ 150,000.
As you can see in the weekly chart, the price is in a complete uptrend channel, in which the price by hitting the bottom line of the channel has started the increasing price trend in wave 3 from the 5th point. In addition, by break down the downtrend line, this scenario has been confirmed. Bitcoin's one-year target would be close to $ 250,000, which is not an implausible goal.
( Weekly Chart )
In the daily chart and by over reviewing the structure of the last uptrend which has started from the range of $ 3850. We see that we are in wave iii from point (i), this (i) wave can continue up to the target of $ 20,000, till the uptrend become fully confirmed
Also, due to the very high demand for bitcoin, we will probably have a very short corrective movement in the range of $ 20,000, and a very strong uptrend forming for the target of $ 100,000 to $ 150,000.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.