BTC/USD – Expect $60k then some pullback. Macrotrend bullish. 🚀 for BITSTAMP:BTCUSD by DU09

As already indicated before (see last BTC idea linked below), BTC is forming the last leg up in a 5 Elliot wave structure.

The macro trend remains extremely bullish for now with all indicators looking good, except volume . That one is falling as price is rising (normally a bearish indicator).

For this reason I would not be surprised to see Bitcoin take a short break around the $60k area or just below that. That is also our last ATH and a major resistance level . So all those that bought at under $30k will take profit after doubling their investment.

Nevertheless, it is unlikely BTC rally will stop there… rather, we will eventually break out of this resistance and rush towards $90k. I say this because MACD on weekly turned bullish in August and this will likely last for a good few months before any significant reversal.

In any event, as long as our major trendline / support holds, we are safe and the trend remains bullish . The hardest question right now is if BTC has the fuel to pump beyond $90k, passing over $100k will be a major major PUMP signal and our idea sell zone will be 120k – 250k. If we fail at that, then taking profit around $90k is a wise move, but that is somewhat of a pessimistic scenario. Adoption is increasing and there is less and less BTC for sale… make your own judgement.

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