We're long towards 10073.03. | 03 May 2018

Wave Analysis

After bouncing from the 4 hour support level 8605.06, Bitcoin is slowly picking a momentum to the upper side. As long as the price remains above this level 8605.06, we expect a possible momentum to the upper side. The anticipated upward rally is the continuation of both the impulsive waves (c) and (v) and should break above 10073.03 towards 11654.05 or even higher. This view can only be invalidated in case the price breaks below 8605.06, this being the case, we'll expect a possible momentum to the lower side and should go beyond 7304.13.

Trade Recommendation:

We're long towards 10073.03.