🚀 Bitcoin hits our $52,000 target: Rally or correction ahead?

Institutional Crypto Research Written by Experts

Author

Markus Thielen
February 16, 2024

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👇1-14) On January 29, we set an ambitious upside target of +24% based on our Elliot Wave analysis. Less than three weeks later, this target has been achieved. What are we thinking now?

Can Bitcoin rally further, or will we see a correction?

👇2-14) Is the market structure supporting the current rally or has positioning increased to a level where the rally could collapse? Some argue that halvings are bullish!

Others say we see a correction before squeezing out the longs.

👇3-14) Looking at all the evidence of our market structure analysis, identifying the critical technical levels, and analyzing pre-halving periods, we came up with an exciting conclusion, as you can read below.

👇4-14) A key question we try to answer with this report is if we could see a sell-off ahead of the Bitcoin halving on April 22, 2024. We run through several charts to break down the market structure and identify what is happening.

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