Elliott waves crypto analysis – We’re long


We're long

Wave Analysis

Yesterday, bitcoin gained around 2% the value it lost on Thursday this week. It is worth noting that bitcoin bounced from a major hourly support level 8605.05, and as long as this level is not broken to the lower side, we expect a possible momentum to the upper side and may break above 9727.30. If this is the case, then we’ll be continuing long with both the impulsive waves (v) and (c) with our next target being 11002.00. This view can only be invalidated in case the price breaks below 8605.05, if this is the case, then we expect a possible rally to the lower side.

Trade Recommendations:

Expect a possible momentum towards 9727.30 or even higher.

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