Elliott Wave analysis gives indication that price may soon make a return to $53,000 however, $58,000 looks to be the next bullish swing target.
A return to $31,000-$35,000 remains in the balance (after reaching ATH near $75,000). Surf carefully.
After taking a very steep dive to the depths of $3.9K, Bitcoin damn near immediately started to retrace in aggressive fashion and while doing so, formed an obvious ascending wedge. Basic TA tells us, a downtrend followed by an ascending wedge is quite bearish. Add this to the fact that sellers were waiting nearby to jump on the overpriced value.
In my mind, many...
