Bitcoin - BTC/USD Elliott Wave Analysis

• Cryptos recover for  correction within a downtrend
• Altcoins lose their dominance 
• Bitcoin can rise up to 43k in case of a flat correction 

Despite the recent recovery in the Crypto market, don't forget, it's a correction within a downtrend, so the only question is how a big rise may occur before bears show up again. For the beginning, we want to show you that ALTcoins are clearly losing their dominance and OTHERS D daily chart can see more downside pressure, so if there's anything to buy, it's Bitcoin

However, even Bitcoin is in a corrective phase, so carefully at this stage, because the whole Crypto market may extend its decline once corrections fully unfold.

OTHERS D Daily Elliott Wave Analysis Chart

As per Elliott Wave analysis, BTC/USD is trying to recover again, but the wave structure still looks slow and corrective, so we are still tracking a correction, but at this stage, we are observing two counts. As a primary count, we are still looking for a more complex bearish triangle formation, but in case of a bigger rise up to 43k area, then we may see even a flat correction as part of COUNT #2.

Bitcoin 4h Elliott Wave Analysis (Primary) chart

Bitcoin 4h Elliott Wave Analysis (Count #2) Chart

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