We're long | 04 May 2018

Wave Analysis

During the previous trading day, Bitcoin extended significantly to the upper side and is still pretty much bullish both on the daily and the weekly charts. We're waiting for a break above 9753.80 towards 10073.03 and could breakout higher towards 11654.45 or even higher. The anticipated bullish price rally is the continuation of both the impulsive waves (c) and (v) to the upper side but should not go beyond 11654.45. This view can only be invalidated in case the price breaks below 8605.06, this being the case, we'll expect a rally towards 7301.13

Trade Recommendation:

You could remain long with your first target at 10073.03 and the next target at 11654.45.