Pixabay

BTCUSD is in strong and impulsive recovery in the 4-hour chart and respecting the price action from technical point of view and wave structucture from Elliott wave perspective, it's ideally unfolding a five-wave bullish cycle that can send the price even up to 25k-26k area.

Currently we can see it finishing a subwave "v" of 3 around important Fibonacci cluster and 23k-24k area, so be aware of a pullback in wave 4 that can retest 21k-20k support zone before the uptrend towards 25k-26k for wave 5 resumes. Invalidation level is at 18400.

For a detailed view check our latest video analysis below:

More By This Author:

Suncor Energy Has A Bright Future
Advanced Micro Devices And Nvidia Show Bullish Price Action
Ethereum Classic Shows Support In Place