Bitcoin (BTCUSD): New Records Showtime

In the previous update I identified the move from $2980 to $1830 as a W-X-Y correction within a rising trend and expected bullish sentiment to set in. The first target was $2760, and here we are now.

Currently I expect the price to make a new all-time high soon. There is a clear _5-wave impulse_ developing with 4th wave being a Triangle. Key price levels are drawn on chart.

Note

Unfortunately, Triangle-based setup proved wrong. The correction continues and I expect lower prices as indicated on the chart below. If price breaks below $2400, the overall bullish scenario is greatly at risk.

Note

BTC is set to rebound higher:

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