BTCUSD is trading in a bullish impulse of a higher degree, labeled as black wave V. We see four of fives bullish waves completed from 11th of November, which indicate that a top can be near. Current rally that is now underway can be final wave 5 of V, that can see limited upside near the upper Elliott wave channel and near the Fibonacci ratios of 2.618 or 1.0; all three elements have a common thing, they offer resistance so be aware of a three-wave bearish reversal.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.