Wave Analysis

Bitcoin is currently showing signs of stabilizing above 5857.03. This a daily support level, and as long as the price remains above it, we expect nothing but a possible momentum to the upperside. As it is on the daily chart, we're waiting for a clear break above 8349.95 to confirm a possible rally to the upper side. On the flip side, should the price break below 5857, then this will be a good place to look for long term short position with an ideal take profit at 10396.80. You can still look for long positions now, if the price can pullback downwards.

Trade Recommendations:

wait for a possible correction.