Elliott wave Bitcoin analysis
By May 10, the BTCUSD market completed the zigzag-shaped correction 2. Next, the price started declining. There could be unfolding the initial part of a new impulse. The market must have completed the impulse down wave [1], and the price is rising in the bullish correction [2]. Wave [2] is likely to be a simple zigzag. Impulse (A) and correction (B) seem to be complete, so the market will be rising in the impulse wave (C). The price could reach level 48300.00. At this level, wave [2] will be 61.8% of wave [1].
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.