Trade Section BTCUSD,ELLIOTTWAVE,M1 Elliott Wave Analysis & Forecast, BTCUSD (Bitcoin), M1, 05-Mar-2020

Elliott Wave Analysis & Forecast, BTCUSD (Bitcoin), M1, 05-Mar-2020

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If we look at chart for last few days, price is range bound between 9000 and 8400 probably lack of decision between bulls and bears.

Daily close above 9000 level will be the first indication level that blue wave 2 might finish and uptrend resume in wave blue 3 of red wave 5.

Only break above 10000 level and close will confirm that blue wave 2 has finished @ 8480 and long term uptrend will start towards 20000 or even higher in final red wave 5.

Meanwhile we cannot rule out the possibility of deeper retracement in blue wave 2 which can retrace down to 6433 before resuming uptrend.

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