Elliott waves crypto analysis – We’re short towards 5464.00.


Bitcoin Review

Wave Analysis

After an attempt rise above 7713.34, Bitcoin failed to penetrate above it, instead, this crypto rebounded from this level and is currently heading to the lowerside, as long as the price remains below this level, we expect a possible momentum to the lowerside. The anticipated bearish price rally should be an impulsive five wave cycle and should break below 7059.10 but should not go beyond 5464.00. This view will only be rendered futile in case the price breaks above 7713.34, this being the case, we’ll expect a rally upwards.

trade Recommendations:

We’re short towards 5464.00.

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