Bitcoin cup and handle on its way to confirmation – target 76,000!

Bitcoin continues on course per our wave count and forecast. This was about the only site to correctly call the BTC bottom. We pointed out that BTC did exactly what we expected it to do finding support at the wave 4 of lesser degree low. After tracing out minor waves 1 and 2 of intermediate wave (5), BTC formed a very nice cup and handle pattern with a confirmation neckline at ~52K. BTC will confirm this pattern with a daily close above 52K. This pattern measures to ~76K.

About alphahorn

I received an MBA from Columbia University’s Graduate School of Business in New York and am a Wall Street veteran. I’ve worked for a number of investment banks including Smith Barney and First Boston/C S First Boston in New York. Over the years, I have developed my own Proprietary Swing System and I combine that System with my own Elliott Wave Analysis to trade.
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