A bit more upside for Bitcoin
2024-10-27

Hi traders,

It looks like the wavecount for the extended wave 5 (red) is invalidated. So I go with the analysis of an ending (or leading) diagonal. Last week Bitcoin started a correction down (wave 4 orange). This looks like a triangle is in the making. 
So after the finish of the correction down we could see another upmove for wave 5 (orange).

Let's see what the market does and react.

Trade idea: Wait for the bigger correction down to finish (ideally into the Daily FVG), a change in orderflow to bullish again and after a small correction down on a lower timeframe you could trade longs.

If you want to learn more about my analysis, please make sure to follow me, give a like and respectful comment.

This shared post is only my point of view on what could be the next move in this pair based on my analysis. I do not provide signals.

Don't be emotional, just trade!

Eduwave