BITCOIN - Approaching Buy Zone 🚀

Bitcoin is in an ABC flat correction, consisting of 3-3-5 (ABC) waves. We are currently in wave C, which is made up of 5 waves. In our last analysis, we identified the 4th wave and anticipated a breakdown for the final 5th wave.

We are now in the 5th and final wave, which is broken down into 5 subwaves.

We require price to go below 17.6k in order for wave 5 to be valid (unless its a rare truncated 5th wave). We anticipate price to stay above the 13k region. This gives us a clean area to look for buys = 13k to 17.6k.

Trade Idea:
- Count 5 subwaves for the 5th wave
- Once we're in the fifth subwave, watch for bullish reversal patterns such as trendline break, BOS etc.
- Targets: 68k, 80k, 100k


See below for our previous Bitcoin analysis

See below for our higher timeframe analysis

Goodluck and as always, lets trade safe!

הערה:

Saveable Image