Bitcoin (XBTUSD) update (Elliott Waves + Fibonacci)

What’s up everyone!

Welcome to this Bitcoin update. After going back and forth a dozen of times it looks like Bitcoin is finally showing it’s destination.

On a bigger time-frame we are busy correcting from a big A wave down (A). This correction, B wave up (B), will end around 5200.
This correction wont happen over night, it probably will take the next 4 weeks to get there.

So what can we expect more short-term?
In the next 3 – 7 days we are going to test the 4200 / 4250 resistance line which happen to be the end of our 3th wave (3).
After testing this resistance line we can expect a pull-back to around 4000 which is labeled as the 4th wave (4).
The 5th and final wave (5) will take us to the next resistance point of 4400.

I will keep you guys updated.

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