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  • Writer's picturePeet Serfontein

Analyst Thoughts: Bitcoin Medium-Term

VIEW RETAINED FOR A MATURING BULL TREND TO REACH 40 000 WITH A FURTHER POTENTIAL EXTENSION TO 41 300.

  • The long-held bullish view of S3 is materialising.

  • The indicated target area is around RA1** where phase A=C is a common extension level.

  • A definite break below S0* through this level will activate further upside potential.

  • The final phase 5 gains could be hesitant and slow as the immediate bull trend loses momentum.

  • A meaningful W,X,Y-type bearish correction off RA1* to S2/S3 remains the preferred outcome.

  • RA1** is crucial for the view. A breach will negate the ABC correction with a bull trend to R3*.

Target and Re-assessment Levels:

Pivotal Levels: RA1* and S0*

Primary Trend and Target Levels: Gains to RA1. followed by downside to S3

Prevailing Trend and Target Levels: Gains to RA1

Technical Rating: Medium



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