Elliott waves crypto analysis – We’re still sellers

BTC –

We're still sellers

Wave Analysis

Instead of an impulsive wave count upwards after breaking above the upper trend line, BTC pulled back to the lower side, broke below this trend line, but has now risen above it. This Crypto appears to be giving mixed signals, thus, instead of picking a short position or long position, we choose to remain on the sidelines. Our expectations is that as long as the price remains below 7715.38, we expect a possible momentum to the lower side, however, in case of a clear violation of 7715.38, then we’ll be good to long BTC but not now.

Trade Recommendations:

As long as the price remains below 7715.38, we expect a possible rally to the lowerside

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