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Bitcoin Breaking Above 5K. Now up to 7000, or back below 4400?

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Bitcoin is breaking to a new high, which was expected after that sharp fall back in September, viewed as correction within ongoing uptrend. There is room for current fifth wave rise up to 6k or even 7k, but be aware that its final leg within big five wave recovery, so corrective turn, a sharp one, should not surprise you. Any early drop below 4500 would suggest that high is in.

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BTCUSD

BTCUSD, chart

We also made video analysis on bitcoin in case you are interested. --> https://ew-forecast.com/newsletter/bitcoin_breaks_above_5k_video

Have a good day,

GH

Disclosure: Please be informed that information we provide is NOT atrading recommendation or investment advice. All our work is for educational purposes only.

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