Chart of the day

Bitcoin has touched 25000 and bounced off this strong upside support. If this support holds we will still be in an Inverse H&S formation and a break above 27000 would be required for an upside continuation.

This is still viewed as the fourth wave pullback of the recent five downside waves unless we see a break below 25000. In that case, an upside reversal can be invalidated and we could see a downside extension in the fourth wave.

Long trade, you can open here with the stops below 25000. We favor the long trade entries as we expect an upside extension from this vital support for at least one more swing higher or a complete reversal higher which requires a break above 32000.

Is