Wave Analysis:

During the previous trading day, the impulsive wave (c) extended slightly to the lower side and is still pretty much bearish both on the daily and the weekly charts. For almost half a year now, since late year, Bitcoin has been on a crash mode. Today and the next few days, we expect a possible bearish momentum with our ultimate target being 2312.00. If you're are a bit skeptic to short this crypto now, you could wait for a break below 5892.46 to pick a short position with your next target at 2312.00. At the moment, we can only recommend short positions.

Trade Recommendations:

Remain short towards 5892.46