BTC Chart Update 🚀

The chart provided is an analysis of Bitcoin (BTC) against the US Dollar (USD) on the Bitstamp exchange, shown on a 15-minute time frame. It appears to incorporate Elliott Wave Theory to predict price movements. Key points of the analysis include:

1. **Wave Structure**: The chart shows a five-wave pattern, typical in Elliott Wave Theory. Currently, it seems to be in wave (3) with a corrective wave (4) anticipated.

2. **Fibonacci Retracement Levels**: The analysis highlights Fibonacci retracement levels at 0.618 (71,611) and 0.786 (72,025). These levels are used to predict potential reversal zones in wave (4).

3. **Projection**: The magenta lines indicate the expected trajectory. After reaching the peak of wave (3), a correction down to the 68,900 - 70,400 range is expected for wave (4), followed by a rally to complete wave (5) near the 73,600 - 74,400 area.

4. **Trading Strategy**: Traders might look for entry points around the bottom of wave (4) in the Fibonacci retracement zones and aim to exit near the projected top of wave (5).

This analysis helps traders by providing a structured approach to predicting market movements, identifying potential entry and exit points based on wave patterns and retracement levels.

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