$BTC As mentioned in the previous Bitcoin analysis, it appears that we are in a 5-wave upward move, with the bottom of Wave 4 situated at approximately 55,500. To confirm this analysis, the price would need to break above the top of Wave 3, which could take BTC to 59,000 or higher, since Wave 5 does not have a fixed maximum size.
At this point, I will wait for the market to react and open a short position with a stop just above the top of Wave 3. This gives me protection and takes advantage of the fact that the stop is relatively cheap, providing a good risk-reward ratio.
Disclaimer: This text does not constitute a recommendation to buy or sell, but merely a reflection on possible scenarios. Consider other analyses and remember that Bitcoin is a volatile asset, subject to unpredictable movements.
