Bitcoin Christmas Rally? $90K/More in Sight
Bitcoin ( BINANCE:BTCUSDT ), as I previously expected , has risen to its initial target and has broken above the important level of $88,200, which is a positive sign for continued bullish momentum.
At the moment, Bitcoin is striving to break through the resistance zone($89,230-$87,72.
From an Elliott Wave perspective, it seems that Bitcoin is completing microwave B of the main wave Y.
I expect that after breaking the resistance zone($89,230-$87,72, Bitcoin could rise at least up to the significant level of $90,300, approaching the Cumulative Short Liquidation Leverage and the 50_SMA(Daily). If BTC breaks above the 50_SMA(Daily), we can anticipate even further gains for Bitcoin.
The question is: do you think Bitcoin will hold above $90,000, or will it begin to decline again?
And finally, a little note about Christmas: I hope you enjoy a wonderful holiday season with your loved ones, and lets see how Bitcoin performs as we head into the new year!
Cumulative Long Liquidation Leverage: $86,690-$85,990
First Target: $90,161
Second Target: $90,721
Third Target: 50_SMA(Daily)
Stop Loss(SL): $86,850
Points may shift as the market evolves
Please respect each other's opinions and express agreement or disagreement politely.
Bitcoin Analysis (BTCUSDT), 1-hour time frame.
Always set a Stop Loss(SL) for every position you open.
This is just my idea; Id love to see your thoughts too!
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