fxs_header_sponsor_anchor

Bitcoin eyes more upside: Elliott Wave analysis

Crypto market is in a strong rise and seems like it's unfolding a five-wave bullish cycle, so we can expect more upside, just be aware of intraday pullbacks. If Crypto market suddenly drops back below 1.77 invalidation level, then we will have to adjust the wave count.

Bitcoin, BTCUSD is showing first evidence for a potential bottom formation in the 4-hour chart and seems like it's unfolding a five-wave bullish cycle within higher degree wave (A). If that will be the case, then we can expect a bigger (A)-(B)-(C) recovery in upcoming days/weeks, we just have to be aware of a pullback in wave (B) before we will see more upside within wave (C)

Bitcoin 4h Elliott Wave analysis


Check more of our analysis for currencies and cryptos in members-only area. Visit Wavetraders for details!

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.