Elliott Wave analysis: Bitcoin looks higher towards all time high prices

Gregor Horvat Wavetraders

Bitcoin remains under strong bullish pressure and looks like there is room for more gains that can send the price back above all-time highs within a five-wave cycle.

Currently we are still tracking wave "v" of 3 in the 4-hour chart, so after a pullback in wave 4 we may see another push to the upside for wave 5. Support is between 58k-54k. Invalidation level remains at 50k.

Bitcoin 4h Elliott Wave analysis

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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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