#Bitcoin = Daily Analysis = 04.08.2021 $BTC #BTC #crypto #cryptocurrency #investing #trading #charts #ElliottWave

$BTC seems in a hurry to rally. There is a chance that yesterday’s bottom is all we got for wave (2) and wave (3) is underway. What is next? Let’s explore the options from different angles.

Candles

Daily
Yesterday I warned about a reversing move and today $BTC beat all expectations. First of all, it formed a strong Bullish Engulfing. Second, the wave does not look corrective. If there is another green candle tomorrow, the rally is likely underway.
The candle closed above 20 EMA and 50 MA lines on a higher volume. The other factors also support the northbound move.
Odds: Strong Bullish

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