BTC impulse wave

Bitcoin breaking out of correction wave four of the current Elliot wave cycle. Breakout from resistance occurred and old resistance held as support which is a positive sign that wave five is under way. Futures trading is beginning today which may impact the larger retracement at the end of wave five. I will update later with potential targets for wave five. Target retracement can be estimated once wave five is closer to completing.

Remember that this is an opinion only and not financial advice. Please do your own research before making any financial decision.