Sunday Update - Bitcoin
Good evening everyone!
Tomorrow marks an important day for workers and unions in my and most other European countries. Thousands come together to celebrate the famous “workers day” and protest for better pension programs and workers’ rights. While I enjoy the additional day off, I certainly hope that this “protest” remains peaceful, and my heart goes out to the poor guy whose car will burn down tomorrow….
But enough, most of you come here for the newest charts and our Elliot wave count, so let’s focus on them!
After several weeks of uncertainty and difficult wave movements, my colleagues and I could spot a very important chart pattern, which we discussed in a YouTube video last Wednesday. A so-called “Leading Diagonal” emerged on the chart, and the whole wave movements of the past months can be explained perfectly by this pattern.
A “Leading Diagonal” usually emerges in a wave 1 or a wave A, the whole crypto market is in an uptrend, so of course this pattern confirms our projected Macro Wave (1). Investors which don’t know about this pattern might be confused, but let me say it clear, it doesn’t really change anything about our price goal of 35’000$ and even 40’000$.
Our orange trading zone is marked on the chart, and we expect that bitcoin will push higher in the next days to finish the “Leading Diagonal” pattern, depending on the volatility this zone should be reached within the next 2–3 weeks. (Coordinates: 36’761$ – 39’424$)
Note: Bitcoin is continuously getting more expensive, and a few indicators hint towards an alt-season as soon as bitcoin is in the last breaths of its Macro Wave (1), I will explain this in greater detail next week!
Please note that we are already invested in Bitcoin since the 15th of June 2022, back then we announced our first positions on tradingview.
Long Bitcoin (BTCUSD)
AVERAGE EXECUTION PRICE: 20’714.20$
STOP-LOSS: NONE
LONGTERM TARET: +120’000$