BTC. Flat. | 10 February 2025
10 February 2025, BTCUSD
Overall, Bitcoin's sentiment is quite positive. Cryptocurrency No. 1 appears to be in a bullish cycle. The current price rise began with an initial diagonal triangle, which is likely part of Wave i. After the development of this wave, the price stood for a considerable amount of time in a certain descending price range, presumably forming Wave ii.
Then came an impulsive rise, which may be Wave (i) and mark the beginning of an extension in Wave iii. If this assumption is correct, the current decline can be seen as Wave (ii). In this case, we may see a continuation of the development of this correction. What form it will take is difficult to say at the moment, so let's consider it a zigzag.
Trading in this situation is not recommended, as it is unclear exactly how the supposed correction will evolve. Therefore, it is best to stay out of trading positions and monitor the situation from the sidelines.
Investment idea: Flat.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
