As I mentioned in my weekly update yesterday, BTC looks like taking a pause for a day or two. I am viewing this retrace as wave 4 before a final push higher in wave 5.

Daily Forecast

  • I am expecting BTC to retrace to 56000-58000 area on Monday-Tuesday. After that – a powerful push to 68000-72000 for a week or longer.
  • Note that if the coin retraces lower than 56000 and stays in the area, I would be viewing this as a possible sign of a bigger reversal.

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