Bitcoin Broke Through $20,000 - What's next?
Expectedly (for the most) or not, Bitcoin broke the vital barrier of 20,000 USD. A new era for the cryptos has started. Bitcoin is currently ranging bullish but most of the latecomers are now flooded with FOMO. So before we jump in a long position that could get us stopped out in a minute, we should use every tool we have to find the next reversal zone for the biggest cryptocurrency, as it now moves in unmapped waters.
Using the Wave Theory, a 5-Wave bullish sequence makes its appearance. For the time being the setup looks valid and reliable. However no one here has a crystal ball so we don't know what will certainly happen.
My estimations is that the reversal zone that is hunted by bears seems to be lying around 23,500 while the next buy zone is believed to be between 20,000 and 21,000. Since we don't have much info about our current price levels all we can do is estimating and expecting.
This whole analysis can be wrong in a moment, and that'd be fine. Although everyone who really wants to buy crypto should monitor the prices of BTC for the next few weeks.
Using the Wave Theory, a 5-Wave bullish sequence makes its appearance. For the time being the setup looks valid and reliable. However no one here has a crystal ball so we don't know what will certainly happen.
My estimations is that the reversal zone that is hunted by bears seems to be lying around 23,500 while the next buy zone is believed to be between 20,000 and 21,000. Since we don't have much info about our current price levels all we can do is estimating and expecting.
This whole analysis can be wrong in a moment, and that'd be fine. Although everyone who really wants to buy crypto should monitor the prices of BTC for the next few weeks.
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