The Long Investor
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$BTC TOP 20
🕑 Added 2025-04-24 10:22:38 +0000 UTCThis could be a pivotal moment in Bitcoins history coming up.
Price has bounced above the 50 and 200 Day MA and stayed above the 50 WMA and the 200 WMA.
This is showing relative strength compared to the US market, something $BTC has had a difficult time doing over the last few years.
If $BTC can finally break away from its correlation, then $BTC can finally be seen as a safe haven and a store value against the uncertainties of the market....which is why we are seeing Gold run to ATH's right now.
That being said, the bounce since $74k is looking corrective in nature and we only have 3 waves, we know that 3 waves is not enough and that would be a Wave B if it stays as 3 waves.
Big test for me will be the test of the amber 0.618 Fib at $96k.
Holding above this level and the bulls can expect to send this back up to test the ATH level again, a rejection and we must assume that Wave C is next as shown.
Comments
Michael
It has rejected, right?
Gareth Neary
I do not have a position here
Manuel Hannich
Hey Cap. Have you already trimmed your position @ 100k?
