About Bitcoin
After Bitcoin ETFs were approved by the SEC, the price of Bitcoin rose almost 60% to $73,777. The market thought that the price of Bitcoin would go to $100,000 without correction, but contrary to the market’s expectation,the Bitcoin price was in a correction phase for 6 months, and after almost 6 months and the re-election of Trump as President of the United States, Bitcoin returned to its upward trend.
Bitcoin Forecast by NEoWave(Update)
In the previous analysis, I said that we seem to be in wave-(e) of D. We considered wave-D as a diametric, which seems to have ended with the drop in Bitcoin price and we should consider the diametric to be over and change the labeling a little. Currently, considering what happened, we have two scenarios:
Scenario 1
In this scenario, if the Bitcoin price is maintained above $70,000, there is a possibility of a double combination pattern, the second pattern will probably be a Diametric or Neutral Triangle or a Reverse Contracting Triangle, and wave-D (higher degree wave) will continue. In this case, the price could touch $150,000.
Scenario 2
In this scenario, if the price goes below the key level of $70,000, we should consider wave-D to be over and the price could decline to the range of $49,000-43.00 and wave-E will be completed.
Good luck
NEoWaveChart
