Wave Analysis:

Since 23rd February this year, Bitcoin entered a converging wedge formation and is still pretty much within this shape formation. As long as the price remains within the two trendline forming this wedge formation. We expect a possible momentum to the lowerside and should go beyond $6234.70 with the next target at 5945.21. The anticipated bearish price price rally is merely the continuation of the impulsive wave (5) to the lowerside and should break below 2564.21 towards 1245.2. If you're not in a short position already, you could wait and resell bitcoin at 7233.65

Trade Recommendation:

Resell Bitcoin upon a clear rebound from 7233.65