Elliott waves crypto analysis – Wait for a clear buy signal.

BTC –

Wait for a clear buy signal.

Wave Analysis

During the previous trading day, Bitcoin continues to rally within the 4 hour support zone 5911.45-6390.01 and is not showing any signs of breaking below it. As we mentioned during the previous trading day, as long as the price is above this zone, we expect a possible rally to the upper side. The anticipated bullish price rally will be the unfolding of an impulsive five wave cycle but should not go beyond the daily resistance level 12733.86. But, should the price break below 5911.46, then this will be a good place to look for short positions.

Trade Recommendations:

Wait for a clear buy signal.

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