As long as the price is above 8606.08, we're long towards 11727.75

Wave Analysis

So far, bitcoin has not moved an inch towards the price we previously forecasted. Despite this, we still expect further momentum to the upper side especially while the price is still above the hour support level 8605.06. As long as this support remains intact, we expect a spike to the upper side. The anticipated bullish price rally is the continuation of the impulsive wave (c) to the upper side and should break above 10135.65 towards 11727.75 or even higher. This view can only be invalidated in case the price breaks below 8605.06, this being the case, we’ll expect a decline towards 7304.11.

Trade Recommendations:

As long as the price is above 8606.08, we’re long towards 11727.75

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