Elliott waves crypto analysis – Only sell bitcoin incase of a break below 5911.46.

BTC –

Only sell bitcoin incase of a break below 5911.46.

Wave Analysis

Bitcoin is still consolidating above the supportive zone 6390.03-5911.46. As long as this zone protects the price above it, expect a rally to the upper side. At the moment, we expect a break above the converging wedge formation to confirm a potential rally to the upper side. But should the price break below 5911.46, then we’ll be waiting for a slight correction to pick a low risk sell position with an ultimate target at 4521.23. So far bitcoin has been in a constant downtrend and chances of breaking below 5911.46 are very high.

Trade Recommendations:

Only sell bitcoin in case of a break below 5911.46.

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