In accordance with our primary scenario, Bitcoin has climbed higher into the orange zone between $30460 and $34790. Now, we expect it to rise a bit more still to finish wave iv in orange. Afterwards, Bitcoin should turn around and move downwards, falling below the support at $26591 and into the magenta zone between $24055 and $18897 to complete wave v in orange and in magenta. There is a 35% chance, though, that Bitcoin could gain momentum and soar above the orange zone, crossing the resistance at $40809 in the process.
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📊 Free daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.