BTC in the fourth wave could go to $24,900

20 kwi 2023

1. The BTC price is losing a bullish channel, the high of which coincided with the third impulse wave, since it started the upward trend from January.
2. This bullish channel coincides with the upper parallel of a trident. The price is breaking the bottom of the channel, which coincides with 0.328 on the upper side of the trident (in purple).
3. BTC is testing strong support at 228,600. If the candle for this Thursday closes below the indicated bullish channel, it will have broken the pattern.
4. The breakout occurred on high volume, so this breakout is valid.
5. If BTC loses the support of 228,600 in the next few days, the price would attack the median of the trident, which could generate a panic sale. This would complete the fourth wave, which is correction. The target may be at $24,900.