Bitcoin appears to have completed a 5-3 Elliott Wave, with the corrective impulse taking us to the 0.500 Fibonacci level at $53.9K. We could have a further retracement to the 0.382 level at $52.1K and still be considered bullish. We could see this level easily if the corrective wave has not completed yet. Even further, $50K should provide good resistance. If we do see a lift, $55.7K or $58.3K are good intermediary targets. BTC should extend the overall sideways correction before making another run for highs.
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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.