Technical analysis by SignalsProvider about Symbol BTC: Buy recommendation (5/14/2024)

Hello, crypto enthusiasts! Our Elliott Wave analysis on BTCUSD indicates that Bitcoin may be ready to make a significant upward move. After completing the corrective Wave (b), we're observing the early formations of Wave (c), which typically represents a strong bullish impulse. From the current levels, Wave (c) is expected to extend towards key Fibonacci targets. The initial target is at 0.618 Fibonacci level at 65746, with a further stretch potential up to the full Fibonacci extension at 69189. These targets suggest substantial upside potential from the current price. Given the setup, entering a long position now could provide a strategic advantage. Consider setting a stop-loss slightly below the recent low of Wave (b) to manage risk effectively. This setup offers an excellent opportunity for substantial gains while keeping risk contained. Monitor BTCUSD closely and be prepared to adjust your positions as needed. As always, ensure your trading decisions are well-aligned with your risk management strategy.Trade active