Elliott waves crypto analysis – As long as the price is above 5911.46, expect a rally upwards

BTC –

As long as the price is above 5911.46, expect a rally upwards

Wave Analysis

After a breakout below the lower supportive trend line, bitcoin failed to breakout below 5911.46. and is still pretty much above this line, unless there’s a clear breakout below this level, I’m waiting for a clear rebound from this level to pick a long position with an ultimate target at 12,733.80. If you’re not long already, you could wait for pullbacks to pick long term long positions. In case of a break below 5911.46, then this will be an ideal place to look for long term short positions with an ultimate target at 5000.00 or even lower.

Trade Recommendations:

As long as the price is above 5911.46, expect a rally upwards

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