Elliott waves crypto analysis – Look for long positions

BTC –

Wave Analysis

After a failed attempt to breakout below 5911.46, Bitcoin pulled back upwards and is now rallying above this same zone. As long as the price is contained above this zone, we expect a possible momentum to the upper side. The anticipated bullish price rally is the continuation of another impulsive five wave cycle and should break above the contracting wedge formation but should not go beyond 12733.99. This view can only be invalidated in case the price breaks below 5911.46, and even then, we’ll wait for confirmation that the price will continue downwards.

Trade Recommendation.

Look for long positions towards 12733.82

101% Double the volume

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