Elliott waves crypto analysis – Rebuy bitcoin upon a rebound from 8606.06

BTC –

Rebuy bitcoin upon a rebound from 8606.06

Wave Analysis

Despite the previous forecasts that bitcoin could continue upwards, Bitcoin slightly crashed during the previous trading day, but is still above the hourly support level 8609.06. As long as the price remains above this support we expect further momentum to the upper side with our target being 11044.70. If the price breaks below it, the we’ll expect further momentum to the lower side with our target at 7306.11 or even lower. On the our chart, we expect a short term decline in price but should not go below 8606.02, where we expect a rebound to pick a long position.

Trade Recommmendations.

Rebuy bitcoin upon a rebound from 8606.06 with your target at 11044.70.

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