Technical Analysis

Bitcoin Resumes Its Bullish TrendOct 30, 2024

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

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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