FX.co ★ Technical analysis of Bitcoin for July 28, 2021

Bitcoin likely completed a wave 4 correction with the test of 28,600 and should be testing resistance at 41,342 soon and a break above here will indicate the completion of wave 4 and the onset of wave 5 to above the peak of wave 3 at 58,354 and likely much higher to just below 100,000.

Despite the huge decline from the 64,895 peak the uptrend remains firmly in place and should take us way above 64,895 once wave 5 really starts to take off.

Trading recommendation:

Buy Bitcoin above 41,342 for a wave 5 rally to above 64,895