Bitcoin Resumes Its Bullish Trend

Bitcoin coin dark background by Johannes Blumel via Pixabay

Bitcoin with ticker BTCUSD remains in a higher degree bullish trend as expected. After we recently spotted wave IV correction on a daily chart, we can now see it resuming higher for wave V with space up to 100k area that can be achieved by a new lower degree five-wave bullish cycle.

Bitcoin Resumes Its Bullish Trend BTCUSD Daily Chart
BTCUSD Daily Chart
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Basic Impulsive Bullish Pattern shows that Bitcoin can be trading in wave 3 of V, so more upside is expected. Later we will just have to be aware of subwave 4 pullback before a continuation higher for wave 5 of V.

Bitcoin Resumes Its Bullish Trend Basic Bullish Impulsive Elliott Wave Pattern
Basic Bullish Impulsive Elliott Wave Pattern
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On the date of publication, Gregor Horvat did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.