BTC –
Wave Analysis
Bitcoin rallied slightly lower than expected but is still within the 4 hour supportive zone 5911.46-6390.03. Unless there’s a clear breakout below this zone, we expect a possible rebound from it to pick a long position with an ultimate target at 12733.85. But, should the price break below 6390.03, then we’ll wait for another break below 5911.46 to confirm a possible rally to the lower side. This downward rally should be an impulsive wave count and may break below 4000.00 towards 1245.20.
Trade Recommendation.
As long as the price is above 5911.46-6390.03, expect a momentum to the upper side
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