#bitcoin update: EW count $btcusd #btc #crypto

Bitcoin is currently resistance at the 6600 level in the sub-wave 5 of wave 5, which is an ending diagonal.

If we take wave 5 as 1:1 fib extension of wave 1 then the target comes at 5800-6000 region.

If support at this region holds good then we can expect an ABC correction upwards till atleast the 38.2fib region i.e 7400-7500.

However if the resistance at 6600 level is broken by btc then we can expect the ABC correction to proceed till around 7500-7600 region.

Komentarz:

$BTC update: Trying to break below the trend line, supported by Ts-Ks in 4H 6530, 6524 and below at 6450.
However if we get candle close above the trend line then a bullish Ts-Ks cross can be expected in 4H leading to bullish view, else we can expect a test of 6.1k