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  • Writer's picturePeet Serfontein

Analyst Thoughts: Bitcoin - A bigger picture

VOLATILE GAINS AS THE BULL TREND MATURES.


  • General view: The long-held bullish stance out of the KL trend ending pattern is materialising and the view is retained.


  • The cryptocurrency has most likely completed the third wave bull trend around the P/T1 target area, as expected.

  • The current volatile rang trading would then be phase 4 that should remain within the P/S0 parameters.

  • The 1,2,3,4,5-bull trend is expected to be completed with final upside to T1/T2.

  • The bull trend should be followed by a meaningful A,B,C correction to at least S2.


  • Note: The RSI remains overbought, coupled with the blow-off phase 3 of the bull market should lead to increasingly medium-term volatile moves.

  • Pivotal level: S1*




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