Elliott waves crypto analysis – We’re waiting for a long position.


We're waiting for a long position.

Wave Analysis

After breaking above the upper resistance trendline, Bitcoin rallied slightly to the upperside but has now pulled back to the same trendline. We’re waiting for a clear sign that the corrective wave (b) has ended so that we buy the next impulsive wave (c) with our first target at 9755 and the next at 12236. This view can only be invalidated in case the price breaks below 6675, and even the, we’ll wait for another break below 5445 to confirm that sellers are in complete control.

Trade Recommendations:

We’re waiting for a long position.

101% Double the volume

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