Wave Analysis

After a breaking above the 7104.13 handle, Bitcoin has been in a constant up trend and is still pretty much bullish both on the daily and the weekly charts. We expect a possible pullback to the just broken level to pick a long position with an ultimate target at 7286.65. A break above this target will push the price further to the upper side with the next target being 11620.20. This view can only be in case the price breaks below 7104.11, this being the case, we’ll expect a drop towards 6455.68 and may extend lower to $5k.

Trade Recommendation:

Wait for a pullback towards 7104.13 to buy Bitcoin towards 11620.20

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