BTBT — 📊Technical Update (Daily)
According to the prior analysis on Bit Digital, Inc. daily chart, recent price volatility beneath the apex of the equivalence lines within the Expanding Diagonal of Wave (1) suggests that the market is likely consolidating within Minor Wave 4, as expected.
This consolidation would precede the projected advance in a potential extension of Minor Wave 5, aligning with the broader bullish structure.
Wave Analysis:📈🎬 Bullish Alt. Scenario
The entire advance since mid-April appears to be unfolding as Intermediate Wave (1) — potentially forming a Leading Expanding Diagonal — shaped like a shark!! 🌊🦈🌊🌊🌊
This early structure may be laying the groundwork for a much larger impulsive advance in Primary Wave ⓷ (not visible on this daily timeframe).
This expanding diagonal suggests a broader bullish shift, potentially anchoring a sustained uptrend. With a possible extension in Minute Wave ⓥ within Minor Wave 5 of Intermediate Diagonal Wave (1) projects toward $8.55🎯, suggesting a +131%📈 upside just into mid-November, contingent on breakout confirmation.
Long-term structure continues to build — monitor closely for breakout confirmation and volume support.
🔖 For context, refer to the Weekly Bullish Alt. Scenario published on Oct. 1st.
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