BITCOIN: 6 May, 2024
© Master of Elliott Wave Analysis: Hua (Shane) Cuong, CEWA-M
The broader context suggests that wave 4-red appears to have ended, allowing wave 5-red to unfold upwards.
In the short term, the upward movement from the low of 56552.82 is crucial to reaffirm the bullish outlook. Pushing above the level of 67232.35 would further strengthen the medium-term bullish perspective, aiming for a target around 74000.00 - 78000.00.
Invalidation point: 56552.82
The broader context suggests that wave 4-red appears to have ended, allowing wave 5-red to unfold upwards.
In the short term, the upward movement from the low of 56552.82 is crucial to reaffirm the bullish outlook. Pushing above the level of 67232.35 would further strengthen the medium-term bullish perspective, aiming for a target around 74000.00 - 78000.00.
Invalidation point: 56552.82
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