BitCoin doesn’t need any explanation, especially lately when everyone is invested in it and even big players are getting in. Short-term trading BitCoin can be very lucrative but dangerous as well.
At previous highs close to $20.000 mark many have taken mortgages to buy BitCoins expecting it to reach $50.000, $100.000. Price went down in a very volatile fashion making low close to $3000.
The previous high close to $20.000 was in fact the cycle wave I. Price declined in an abc correction into cycle wave II low just above $3000 and then started a new impulse wave which isn’t over yet, the cycle wave III.
Price made primary wave 1 and wave 2 rising toward top of wave 3. At some point the price will pull back into wave 4 and make last impulse wave 5. This cycle is far from over although BitCoin is close to $60.000.
A call for long has been posted on March 13th 2020. after the primary wave 2 low at 5827 with harmonic target at 16304.
Exactly 8 months later, on November 13th 2020 BitCoin reached harmonic target at 16304.
There are many more calls for BitCoin on @fximperija twitter feed.