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Bitcoin (BTC) Price Targets $48K Propelled by Historic Chinese New Year Gains

February 8, 2024
in Crypto Updates
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Trying additional forward, Thielen forecasted additional upside for bitcoin based mostly on Elliott Wave concept, a technical evaluation that assumes that costs transfer in repetitive wave patterns. Value tendencies develop in 5 phases, in keeping with the idea, of which waves 1, 3, and 5 are “impulse waves” representing the primary development. Waves 2 and 4 are retracements between the impulsive worth motion. BTC accomplished its wave 4 retracement by correcting to $38,500, in keeping with Thielen, and has now entered its final, fifth impulsive stage of this uptrend concentrating on $52,000 by mid-March.



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Tags: 48KBitcoinBTCChineseGainsHistoricPricePropelledTargetsYear
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