Bitcoin

Volatility in the Bitcoin market is not new but it still makes headlines. The entire move from the bottom in 2020 has only complete wave 3 as shown. Wave 5 up is pending. What is not clear is if wave 4 is complete or not. It could be with wave 4 breaking the lower line but not going below 50441. Or as shown on the chart wave 4 is still forming a running triangle and the support is at 50441 and next resistance at 67460. Eventually wave 5 may develop later and 5=1 is likely to project over 160000.