Elliott Wave Analysis: BTCUSD Aiming For 8000!

Gregor Horvat Wavetraders

Hello traders,

As expected, Bitcoin is very strong and came into 7000 area very quickly, but seems like there's still room for more upside towards 8000 target area for wave 3, especially after that bounce on ALT coins, so we would not be surprised if we see an extension of wave 3 even much higher. However, BTCUSD remains bullish for now, but any sharp and impulsive decline would indicate a completed five-wave cycle and at least a deeper correction in three waves for wave 4.

BTCUSD, 4h

Author

Gregor Horvat

Wavetraders

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

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