2021.05.24 Bullish Scenario
Should price build momentum and trade above the 32.8 ER / 32.8 App confluence area, the next target area would be a break and retest of the Daily Bearish Trendline and then a continuation to target liquidity above old daily highs at the 61.8 APP / 61.8 IR confluence @33804.00 / 38108. 05 .
So far today our Bullish Scenario for Bitcoin price has played out as anticipated. However there was a clean break and close above the trendline right into the 61.8 APP / 61.8 IR confluence @33804.00 / 38108. 05. It is now expected for price to retreat and retest the daily trendline and possibly lower to the price void created by the Gap @ 33825.15 / 33035.15.
Truncated
It appears that we may have had a truncated Elliott Wave: e (5th wave) and we still could be in a more complex correction. I have updated the chart for your consideration.
** This should not be considered trading advice. Feel free to compare my analysis to your own research.
Should price build momentum and trade above the 32.8 ER / 32.8 App confluence area, the next target area would be a break and retest of the Daily Bearish Trendline and then a continuation to target liquidity above old daily highs at the 61.8 APP / 61.8 IR confluence @33804.00 / 38108. 05 .
So far today our Bullish Scenario for Bitcoin price has played out as anticipated. However there was a clean break and close above the trendline right into the 61.8 APP / 61.8 IR confluence @33804.00 / 38108. 05. It is now expected for price to retreat and retest the daily trendline and possibly lower to the price void created by the Gap @ 33825.15 / 33035.15.
Truncated
It appears that we may have had a truncated Elliott Wave: e (5th wave) and we still could be in a more complex correction. I have updated the chart for your consideration.
** This should not be considered trading advice. Feel free to compare my analysis to your own research.