Strate𝔾 Update - Week 22 | Q2 | 2024
Bitcoin to decide what's next (2 scenarios unfolded)
Please note that while I can provide information and insights based on my knowledge, it's important to remember that I cannot offer specific financial advice. #nfa
News of this week
Argentine representatives engaged in discussions with El Salvador officials regarding the implementation of Bitcoin and other cryptocurrencies.
Semler Scientific, a healthcare firm, acquired 581 Bitcoin valued at $40 million and designated Bitcoin as its main treasury reserve asset.
Bernstein, a leading asset management firm overseeing $725 billion, forecasts Bitcoin prices to reach $90,000 in 2024 and $150,000 in 2025.
President Biden vetoed legislation permitting highly regulated financial institutions to possess Bitcoin and other cryptocurrencies.
Tweet of this week —> “Follow the leader.”
Current status 100% Winning strategy: 🔵—> ALL-IN, currently a price drop to $44,8k would flash the black signal.
Updated chart, shows $BTC remains in the blue all-in zone, more info:
Bitcoin
In the chart below on the left the Bitcoin price action since 2009 is shown. On the right a zoomed in chart is shown of the wave up which started at the 2022 bottom at $15.4k, i.e. wave 4-5 of ⑤. Application of the Elliottwave channeling method projects the top of wave ⑤ at the line through ① and ③.
This target line lies currently at ~$235k and runs beyond $300k in 2025.
The following two scenario’s are considered:
Correction 3-4 on the right chart is already final, blow-off wave 5 is about to kick in. ATH needs to be broken for this. Peak target lies between ~$235k-$260k
Correction 3-4 on the right isn’t final, first another leg down is next, wave C. After that blow-off wave 4-5 kicks in. Peak target lies between ~$260k-$330k
