Today 50 MA crossed 200 MA and BTC seems to be following the pre-determined channel with great accuracy. If it continues, it could hit $31000-32000 in the next few days. That would be wave 1 out of expected 5 down.
If this is the case, the most typical targets would be:
- (C) = 0.618 x (A): $19975.
Note that this target is just a tad above the Long Term support of $19870.6. If this support breaks, $BTC could see a 4-digit prices in the nearest future. The long term waves/forecast will require a full recount if LT support breaks.
- (C) = 0.786 x (A): $14176.
- (C) = 1.0 x (A): $6789.
Tomorrow’s closure could form a very interesting weekly candle. I hope it provides enough data for forecasting further moves and targets.
The Long Term Forecast posted on Jun 9 stands. The link below.
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