Empire Newsletter: Bitcoin surfs Elliot Waves to beat the heat

Just keep swimming

How low can we go?

Maybe the question should be: What’s the next high?

After bitcoin (briefly) broke below $60,000 yesterday, I saw some speculation on the next support level for bitcoin.

So I chatted with John Glover, Ledn’s chief investment officer, to get some insight into technical levels for bitcoin and the market at large.

This is clearly a topic we’ve discussed a few times here in the last couple of weeks as bitcoin searches for a foothold above $65,000. One such support level I mentioned was $60,000, and with that lost, Glover said the next level would be $55,000 or $56,000 (a level we saw back in May).

If bitcoin manages to break through that level,…

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