BTCUSD remains in higher degree uptrend as prices broke to new ATH back in March from where we can see a three wave retracement on a daily chart. It appears that this can be higher degree wave IV, that is finished at 53 area. In fact, we can see some nice bounce here on 4h time frame, with price accelerating after breaking above the black resistance line suggesting that wave (C) has ended and a new bullish trend is in the cards. Break above 63859 and five waves up from the low, is now a new indication for a bullish trend; same level can serve as a support in wave 2 pullback, followed by 62k.
Get Full Access To Our Premium Elliott Wave Analysis For 14 Days. Click here.
By using Wavetraders website, any services, products, and content contained here, you agree that use of our service is entirely at your own risk. You understand that there is a very high degree of risk involved in trading on the markets. We assume no responsibility or liability for your trading and investment results. The charts, and all articles published on www.wavetraders.com are provided for informational and educational purposes only!
By using the information and services of www.ew-forecast.com you assume full responsibility for any and all gains and losses, financial, emotional or otherwise, experienced, suffered or incurred by you.
Recommended Content
Editors’ Picks
Ethereum ETFs flows data pour in after crossing $1 billion trading volume in first day of launch
Ethereum ETFs have crossed the $1 billion mark in trading volume on the first day of launch. Investors won't substitute Ethereum for Bitcoin but would hold both, says Bitwise's Matt Hougan. Ethereum could replicate Bitcoin's price post-spot BTC ETF launch following recent price action.
Bitcoin Conference could host huge election showdown with Kamala Harris as potential speaker
Bitcoin Conference could be major price catalyst after reports that Vice President Kamala Harris may be one of the speakers. Donald Trump will speak on crypto regulations and a Bitcoin strategy at the conference. Kamala's camp has been asking questions about cryptocurrencies, claims Mark Cuban.
dYdX recovers compromised v3 platform hours after leaked sales attempt
The dYdX team reported an attack on its DEX's version 3.0 platform on Tuesday. The breach came hours after a Bloomberg report revealed that the team could be planning to sell the v3 platform to intending buyers.
Vitalik Buterin reveals new cryptographic protocol Circle STARKs
Vitalik Buterin revealed a new blockchain protocol for enhancing efficiency, Circle STARKs. Circle STARKs will utilize smaller fields to improve speed and maintain security. Polygon Labs and StarkWare are major collaborators in building Circle STARKs for ZK rollups.
Bitcoin: Will BTC continue its bullish momentum?
Bitcoin (BTC) price increased by 5.5% this week until Friday after breaking above a descending trendline. Currently, it is trading slightly higher by 0.23% at $64,166.