$BTCUSD - Bitcoin, Tesla and Elliott Waves

Hi guys! 👋🏻

🔔 Soon after the release of the tweet, Bitcoin price climbed to $56 250, adding 3% to the daily gain of the price.

🔔 On March 14, Bitcoin set a new record high at $61 779 and retraced, not reaching $62 000 long-awaited by many investors. Since March 14 Bitcoin has been following a 10-day downtrend.

🔔 There was a high exchange inflow of BTC on March 13 and approximately 17.9K BTC entered the exchanges. From March 14 up to March 21, the inflow volume dropped from 48 480 BTC to 18 200 BTC forming a slide of 30 280 BTC, which is a drop of 62.45%. The same is witnessed now, exchanges inflow since March 21 has increased by 123% according to the data from ITB.

🔔 While the inflow has increased, it is expected that the price will as well, and such volumes suggest that we might see a new ATH soon.

🔔 There is a falling wedge on the watch here and if the breakout from the upper edge of the pattern is confirmed overnight, based in the pattern's rules the next target would be $66 700

🔔 Though I believe that the first resistance to watch for if the breakout is complete, lies at $62 000 and if the pace remains, I believe this resistance will be overtaken easily.

🔔 MACD indicator is very bullish, so as RSI on 4H, and on the daily while we are still above the lower border of this parallel channel, we remain bullish

✊🏻 Good luck with your trades! ✊🏻
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