Breaking news from the world of cryptocurrencies:
Cryptocurrencies are becoming even more popular.
The Toronto Stock Exchange-listed company Nuvei Corporation, in partnership with Visa, has issued cryptocurrency debit cards available in the European Economic Area and the UK. Payment processing will be carried out by its fintech division Simplex, which has entered into a partnership with the COTI platform. Through the partnership with Nuvei, merchants of the COTI financial blockchain network will benefit from wider adoption by being able to accept cryptocurrency as a payment option.
BTCUSD, H1:
Bitcoin continues to move according to our chosen scenario, which was assumed to build a downward simple zigzag. At the beginning of December, the first impulse wave [A] was fully completed, which consists of subwaves (1)-(2)-(3)-(4)-(5).
After the end of the impulse, the market reversed and we saw the formation of an upward correction [B]. This correction suggests a double zigzag (W)-(X)-(Y). The first wave (W) is completed in the form of a double zigzag W-X-Y. Wave bundle (X), which has acquired the shape of a triple zigzag W-X-Y-XX-Z, also looks completed.
It is assumed that Bitcoin has now begun to build the last active wave (Y), which can also take the form of a triple zigzag, as shown in the graph. To complete this construction, the Y-XX-Z subwaves are needed.
Thus, in the near future, the price of Bitcoin will grow, approximately to the level of 55,050.00. At this level, the magnitude of the wave [B] will be 50% of impulse [A]. The probability of achieving this coefficient is high.
Trading recommendations: buy from the current level, take profit 55,050.00.