Bitcoin Analysis for Friday, May 7

On the bullish side, a move above 58000 on Friday would negate the bearish wave count.

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Bitcoin  (BTC) Ethereum (ETH) Technical Analysis Elliott Wave

  • Overview: ABC as Wave (4) an Intermediate degree Elliott Wave structure down towards 40 - 45k. On the bullish side, a move above 58000 on Friday would negate the bearish wave count.
  • Bitcoin Elliott Wave Analysis: Wave (i) of iii) of C of (4)
  • Trading Levels: The market is moving in Minor group1 MG1|53|52|51 of Major Level 5  TL5|50,000
  • Bitcoin Trading Strategy: Neutral 

Video length 00:26:12

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