Bitcoin is more expensive than $65000, congratulations to everyone. And now to the analysis of alts

🔎 #MKR Analysis
The coin moves in an upward five-wave cycle according to the Elliott📈 theory. At the $600 support, an inverted head and shoulders pattern was formed, which prompted the price to reverse. After the figure, there was a turnover, but the structure was preserved. And from the support, the price started the first wave on rising volumes. It overcame two key consolidation levels: $940 and $1,245. It peaked at $1653.
The pullback of wave II was quite fast, which indicates the strength of the uptrend. The corrective wave ended at $1213. The price maintained its upward structure and moved to the third wave of growth. As the wave developed, a rickshaw pattern was formed, reflecting the importance of the $1725 level. Sellers and buyers sought to find a market equilibrium, as evidenced by the almost equal length of the shadow and the narrow body of the candlestick. Then the wave continued to move upwards and reached a maximum of $2275. Now the corrective IV wave of the upward cycle is forming.
As the wave develops, a cup with a handle pattern has formed on the lower timeframe, which can potentially complete the wave and move on to the formation of the fifth. However, a bearish divergence in the MACD may prevent growth from the current ones. The price marked rising highs, and the indicator reflected two descending tops.
In turn, the ADX indicator indicates the local superiority of the bears' strength. It is too early to talk about the formation of a trend. The bearish moving average crossed the trend and bullish moving averages from the bottom up. In general, the local correction fits into wave IV. It is important that the price does not go significantly below the $1725 level. If this happens, the upward structure of the cycle may be disrupted and the price will go to the levels located below📉.
Both timeframes confirm the true development of the cycle. For a clearer picture, it is necessary to wait for the formation of wave IV. If it fulfills the conditions and ends correctly, the price will move into the V wave of growth. The approximate target is $2800, but to achieve it, the price will have to beat the ATH at $2280.
BTC comes out of the wedge and continues to delight us with growth. The indicators of fear and greed are off the charts. The capitalization of altcoins has already reached $1 trillion, but has sharply decreased on the current growth of BTC. Capital is flowing through the alts, but not yet to the full extent.