BTCUSD: SELL 96000, SL 97500, TP 91500 | 08 May 2025
08 May 2025, BTCUSD
Yesterday’s trading session for Bitcoin did not go according to plan. Previously, the upward impulse indicated that a corrective decline would follow. However, after a minor drop, the price suddenly surged and reached a local high. Currently, this spike in buying activity is seen as part of an ongoing correction. In this case, we can expect the price to decline again soon, forming the missing segment of the zigzag pattern within wave [ii]. Thus, it's worth considering new short positions with a protective stop loss placed above the local high. Investment idea: SELL 96000, SL 97500, TP 91500.
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.
