Hello friends,
Expanding triangles seem to only work after the move has taken place! Many analysts find it difficult to identify expanding triangle accurately.
Expanding triangle means that: wave 3 is longer than wave 1, wave 5 is longer than wave 3, and wave 4 is longer than wave 2.
Rules:
Wave 2:
Wave 2 = 78% of Wave 1
Wave 3:
Target of wave 3 is relative to the size of wave 1.
wave 3 = 160% of Wave 1
Wave 4:
Wave 4 = 78% of Wave 3
Wave 5:
Target of wave 5 is relative to the size of wave 3.
wave 5 = 160% of Wave 3 = 96k
Another (Weekly) View:
expecting bullish Wave (96k) before breakout.
Expanding triangles seem to only work after the move has taken place! Many analysts find it difficult to identify expanding triangle accurately.
Expanding triangle means that: wave 3 is longer than wave 1, wave 5 is longer than wave 3, and wave 4 is longer than wave 2.
Rules:
Wave 2:
Wave 2 = 78% of Wave 1
Wave 3:
Target of wave 3 is relative to the size of wave 1.
wave 3 = 160% of Wave 1
Wave 4:
Wave 4 = 78% of Wave 3
Wave 5:
Target of wave 5 is relative to the size of wave 3.
wave 5 = 160% of Wave 3 = 96k
Another (Weekly) View:
expecting bullish Wave (96k) before breakout.
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Bloomberg: Goldman Says Bitcoin $100,000 a Possibility by Taking on Gold
Bitcoin will continue to take market share from gold as part of broader adoption of digital assets, making the often touted price prediction of a $100,000 by advocates a possibility, according to Goldman Sachs Group.
Goldman estimates that Bitcoin’s float-adjusted market capitalization is just under $700 billion. That accounts for 20% share of the “store of value” market which it said is comprised of Bitcoin and gold. The value of gold that’s available for investment is estimated at $2.6 trillion.
If Bitcoin’s share of the store of value market were “hypothetically” to rise to 50% over the next five years, its price would increase to just over $100,000,
www.bloomberg.com/ne...ty-by-taking-on-gold
Bitcoin will continue to take market share from gold as part of broader adoption of digital assets, making the often touted price prediction of a $100,000 by advocates a possibility, according to Goldman Sachs Group.
Goldman estimates that Bitcoin’s float-adjusted market capitalization is just under $700 billion. That accounts for 20% share of the “store of value” market which it said is comprised of Bitcoin and gold. The value of gold that’s available for investment is estimated at $2.6 trillion.
If Bitcoin’s share of the store of value market were “hypothetically” to rise to 50% over the next five years, its price would increase to just over $100,000,
www.bloomberg.com/ne...ty-by-taking-on-gold
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