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Bitcoin is Targeting 58058 in an Upward Wave 2 Correction

Long
Bitcoin (COINBASE:BTCUSD)  
Triangle_Trading Updated   
COINBASE:BTCUSD   Bitcoin
Wave Analysis Elliott Wave
0
1
waveanalysis elliottwaves
Wave 1 down to the 30,000 area is being followed by wave 2 up, which will try to completely retrace it. It would be unwise to assume this rally is the next wave to new highs. A deeper third wave down should be expected to commence when wave 2 is complete.
Comment:
We have changed to an extreme SHORT position on Bitcoin, given pattern developments since May 19th. Please see our related warning in the other Bitcoin chart published today.
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