Bitcoin resumes its bullish trend

Gregor Horvat Wavetraders

Bitcoin with ticker BTCUSD remains in a higher degree bullish trend as expected. After we recently spotted wave IV correction on a daily chart, we can now see it resuming higher for wave V with space up to 100k area that can be achieved by a new lower degree five-wave bullish cycle.

BTC/USD daily chart

Basic Impulsive Bullish Pattern shows that Bitcoin can be trading in wave 3 of V, so more upside is expected. Later we will just have to be aware of subwave 4 pullback before a continuation higher for wave 5 of V.

Basic bullish impulsive Elliott Wave pattern

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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