Tuesday Update 07.02.2023 - Bitcoin
Welcome back for another Tuesday update!
The market didn’t move much since our last update, and we are still convinced that bitcoin established its wave (i) and the surge towards 24’000$ was just a wave minor wave (b).
As marked on the chart the market moved in corrective a-b-c movement towards the last high and since then bitcoin declined by a little more than -1500$. According to the Elliot wave theory the market should move down in 5 waves but as of now we can’t spot a bearish wave (i) wave (ii) pattern which would create enough bearish momentum.
Maybe the market will shed some light on this in the next days. Additionally, I just want to point out that it is very important in especially times like these to be extra focused on the market In order to prevent missing any clues.
A few altcoins like solana, polkadot and vechain were more detailed in their movements, and we will make sure to provide everyone here with fresh updates on these altcoins this week.
Please notice that we are already invested in Bitcoin since the 15th of June, back then we announced our first positions here on tradingview.
If you should have any questions whatsoever, you can write a comment or contact me directly!
AVERAGE EXECUTION PRICE: 20’714.20$
LONGTERM TARET: +120’000$