It has been few weeks before I shared an update. Had been busy on both personal and professional fronts so did not get much time. Moreover, charts too have been quite messed up with large moves on either sides.
The worst might be behind us as we seem to have completed complex correction (WXYXZ) in November last year and we can see a clear 5 wave impulse up which could be an early sign up a fresh large upmove. Breakout from the falling trendline further strengthens the view that this might be a trend change.
From Z, we can see a clear 5 wave impulse on the upside and we are hovering around 200 WMA. So this could be a good place for the pullback for this impulse move. Assuming, we start the pullback around current zone, it could be a sizeable correction since this fresh upmove is nearly 10,000 points. On the positive side, whatever the size of correction, we should see continuation of this new (up) trend which might take BTC to ATH and beyond.
One thought on “Bitcoin (BTC) Update March 2023”