Bitcoin rebounds to 65k as correction may be over

Gregor Horvat Wavetraders

We have been talking a lot about a corrective decline in the Crypto market in the past weeks. We also talked about Bitcoin ahead of the halving, where we mentioned and highlighted a higher degree wave 4 correction within ongoing bullish cycle. CLICK HERE

BTC/USD daily chart

As you can see today, after a slightly deeper corrective decline, Bitcoin is bouncing strongly which indicates that wave 4 correction may be over at the ideal 38,2% Fibo. retracement near 56k support. So, be aware of a bullish continuation within wave 5 of III that can send the price back to all-time highs towards 75k-80k area, just watch out on short-term pullbacks.

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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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