$BTC: Here we go again. Fed day volatility. The yellow B-wave price top will become more likely should the price break below $99,333. That said, it is also worth to consider the lower boundary line of the trend channel as support.
MCO Global
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Elliott Wave Technical Analysis services of financial markets.
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MCO Global offers Elliott Wave technical analysis services for a range of financial markets.
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www.mcoglobal.com
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Updates
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$LINK: The support zone, which is defined between $25 and $27.97 is still holding. In a wave 4, support is ideally found around the 38.2% retracement level. The price is ideally in the late stages of wave c of 4. #Chainlink #LINK
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$BTC: The price is approaching the target zone for wave circle wave 3 at $108,636 – $110,440, even though the price ideally reaches $110,440 in circle wave 3. A sustained break below $105,550 would be the first sign of a potential price top. Until then, further extensions to the upside remain possible, with the next Fibonacci target zone at $113,500 – $115,700. Support for circle wave 4 is located between $99,333 and $102,600. #BTC #Bitcoin
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$BTC: With Bitcoin breaking to a new all-time high, I am closely monitoring whether the white scenario can extend toward the $115,000 – 116,000 region. However, the structure of the move off $92,000 appears overlapping and messy. This suggests that any move to $115,000 would likely form a diagonal at best, or fail as a high B-wave at worst – a scenario Bitcoin often exhibits. At this point, I see the pivot level between continued extension and failure at $99,230. From the intraday low at $103,300 to today's high, Bitcoin completed a clear five-wave structure and is now beginning to pull back. #BTC #Bitcoin #ElliottWave