WHAT’ NEXT FOR BITCOIN?
(2/14) Bitcoin is the best game in town with a 17% advance last week. Computer models give a 74% chance for 53967 and we will stay open. NQ should recover for a few days. Daily charts are projecting 59024 so we are going to have to chase at some point but not clear where or when. We have seen an early March high
Oscillators did give a buy signal negating the chance for a C wave lower to 37700.
EVENTUALLY: Daily charts project 59024. Weekly charts point to the third wave going to 69781. Pullbacks on the weekly suggest 45000 may be the best entry but not sure when.
Fund managers are projecting 200,000k Bitcoin on the news into next year but we have seen these wild assertions before. Still, our larger cycles are friendly into 2026. We have to think long-term and it seems like 37000 will hold on dips in the worst-case scenario and with SEC people cooperating a bit, maybe our worries about government regulation are too unfounded.
WEEKLY CHART: Some patterns suggest an upward explosion to 92200 could happen later in the year. Larger cycles into 2026 support that.
GBTC –The ETF
GBTC: (2/14) Fifth wave target projects 5059 and then 54.72. If the market is very bullish, we may only get a pullback to 140 ticks from this upcoming high toward 46.00.
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