Elliott waves crypto analysis – Sell Bitcoin below 5911.46.


Sell Bitcoin below 5911.46.

Wave Analysis

During the previous trading day, bitcoin traded intensely with a bearish momentum and even went below the lower supportive trend line acting as a support to the converging wedge formation. As long as the price is contained below this trend line, I expect an acceleration to the lower side. Ideally, if you’re not already in a short position, you should wait for a clear breakout below 5911.46 to confirm a possible bearish rally towards 5000.41 and should breakout even lower. At the moment, buy positions looks a bit risky.

Trade Recommendations:

Sell Bitcoin below 5911.46.

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