Bitcoin price is expected to rise to $50,000

Bitcoin (BTC), the pioneer in the crypto world, has seen some notable price fluctuations recently. In the following analysis, taken from our Premium environment, we delve into the technical aspects of these price movements. We provide clear and accessible analysis that is essential to your investment decisions.

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New entry points for Bitcoin (BTC)

Crypto Insiders analysts recently shared new Bitcoin analysis in the premium environment. They explained the following:

“Bitcoin’s recent rise is showing signs of slowing, despite the price making higher highs and lows, a traditional bullish signal. The formation of an ending diagonal pattern could mean that the advance is losing momentum.

We see the first wave of a 12345 Elliott Wave pattern ending and the second corrective wave arriving. This correction is expected to occur between the 61.8% and 50% Fibonacci levels, which would imply a price range between $31,000 and $33,000.

Within this range, we will consider buying BTC and expect a significant increase that could push the price towards $50,000. This potential is supported by the current wave structure and the market’s historical response to such patterns.”

Date of analysis: November 29th. Link to trading view:

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