Elliott Wave Analysis: BTCUSD Can Be Trading In Final Wave Five

Bitcoin is unfolding an impulsive pattern to the upside, which means that red wave 4 correction has ended around the 1800 mark. We now see a five wave impulsive movement which unfolded in black wave 3 and found a top near the 3000 level. Wave 3 can so be completed and recent pullback could represent black wave 4 correction. That said, if wave 4 correction is completed then we can expect a new recovery to follow into the final black wave 5.


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Comment:

*If wave 4 correction is completed then we can expect a new recovery to follow into the final black wave 5, but if price contniues from current levels lower, then it can be safe to say, that a top has been already placed and that a depeer correction can be in progress.