🅱️ Bitcoin Weekly Update

18 feb

Bitcoin is closing the weekly session extremely bullish; we are likely witnessing the end of the fifth wave.

The most relevant levels to the upside in the short-term are:

1) 53,000
2) 55,555
3) 59,000 - 60,000

These are the next three resistance levels to track based on fibonacci proportions and past history.

It is of utmost importance to see a very strong break of ~53K as resistance for Bitcoin to keep moving higher. The current session's high remains below 53K.

👉 If Bitcoin fails to break this resistance level, additional growth is not possible.

Whatever additional growth happens we consider it part of the fifth wave. As soon as the wave is over the correction will start.

Bitcoin is likely to move bearish for 4-6 months following the end of this bullish wave.

We continue bearish for the month of Feb. & March 2024.

Thank you for reading.
Thanks a lot for your continued support.

Namaste.