The analyst says this will happen, the bitcoin price will be launched to 140,000 dollars.
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In a newly published scheme, an ELLIOTT WAVE specialist and Big Mike (Michael_EWPRO) determines an accurate road map for Bitcoin price currency, indicating that a break exceeding $ 95,000 – or bounces of low support near 72,895 dollars – BTC can pay about $ 130,000. His analysis depends on detailed census of waves, multiple extension goals, and critical moving averages, providing a closer look at the near and medium BTC capabilities in the medium term.
What is the following for Bitcoin?
Big Mike scheme Offers The complex Elliott wave structure, which consists of five main driving waves and a corrective sub -wave. The main area called near 72,895 dollars is compatible with the wave (IV), which is a major potential bottom if the market is less than $ 78,000 and lasts less.
Note correction waves seem ranging from $ 85,000 to $ 95,000 formed a larger unification stage, which is considered an introduction to the next directional step. The chart also determines a bullish path from about $ 95,000, and the motivation waves fall (3), (4), and (5) that extend to the area of 100,000 – 140,000 dollars.
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The goals of the Fibonacci extension appear by about $ 114,693 (1.618 extension) that can be the target for the wave (3), followed by a corrective step to $ 102,000 before starting the 5 -waved wave aimed at 137,727 dollars (extending 2.618), or even a final leg near Aligns $ 150,000.
The moving averages in the range of 72000 and 90,000 dollars emphasize the importance of subsidies near 78,000 dollars – 72,895 dollars, while the upper range is between 90,000 – 95,000 dollars a decisive resistance corridor. The analyst notes the formation of a descending wedge from mid -February to early March, and extends to 95,000 dollars to 85,000 dollars, and it is noted that the upscale collapse can provoke a renewed batch in the six -digit area.
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Size files indicate wrong participation during the last corrective stages, as well as reading the neutral random power index that indicates that the momentum can be decisively converted depending on the price threshold first.
Big Mike confirms two critical lines in the sand: “BTC will lead above 95 thousand dollars to move quickly towards my goal from 130 dollars to 140 thousand dollars. Less than 78 thousand dollars and test 72 thousand dollars, then run to 140 thousand dollars. From his point of view, each of the break is converging directly above 95,000 dollars and a deeper decline to 72,895 dollars in the end of the same upward target near 130,000 dollars – 140,000 dollars.
At the time of the press, BTC was traded at $ 90,053.
Distinctive image created with Dall.e, Chart from TradingView.com
