Bitcoin’s Path to 60k: Analyzing B1-B3 Bases since Q4/22

BTC’s three subsequent bases since Q4/22 highlight a meaningful trend.
Following B3’s culmination, an anticipated impulsive move to the 60k region emerges.
Post the surge, B4=W4 correction sets the stage for the final W5 push towards SP.

Bitcoin, the digital gold of our age, has been on a rollercoaster since the last quarter of 2022, painting patterns that analysts have closely watched. A standout development has been the formation of three sequential bases, identified as B1 through B3.

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These bases demarcate Bitcoin’s first impulse, dubbed as (5), followed by its correction marked as B3, ABC, portraying a flat trajectory of the blow-off. Such distinct formations invariably point to future price movements. With B3’s impending close, a dynamic, impulsive thrust is on the horizon, potentially catapulting BTC towards the much-anticipated 60k mark. This upward trend is recognized as W3, charting out in a five-wave structure.

But Bitcoin’s path won’t be without its set of downturns. After this ascent, B4 is anticipated to echo W4, introducing the next correction delineated by a sharp ABC pattern. This phase sets the scene for W5, which subsequently aims for the Set Point (SP).

These patterns and predictions aren’t just digital scribbles for seasoned traders. They epitomize the volatile and ever-evolving world of cryptocurrency, specifically Bitcoin, showcasing a blend of ripe opportunities juxtaposed with inherent risks.

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