Bitcoin Technical Analysis for Wednesday May 19

By Peter Mathers of TradingLounge.com

Elliott Wave Analyst - tradinglounge • May 19, 2021 at 2:30 AM EDT

Wave (4) 38.2% retracement level is around the 42,000 that said the Bitcoin can be pulled to the 40 - 38,000.

Close Up of Bitcoins

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

Overview: Wave (4) 38.2% retracement level is around the 42,000 that said the Bitcoin can be pulled to the 40 - 38,000
Bitcoin Elliott Wave Analysis: Looking at two wave counts to complete the move down
Trading Levels: The 40,000 is the Medium Level (ML4) and the next main support, we can usually bring in 38,000 the first Minor level below the Medium Level
Bitcoin Trading Strategy: Looking for the low 40 - 38,000

Video length 00:12:12

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