In the article discussing the annual trend of Bitcoin prices, we can observe that the current trend is in harmony with the long-term trend for the year. The current price is in the model of A – B – C corrective wave within the million-dollar pattern and is currently in the final wave from B to C.
As it moves from B to C, the price is expected to follow at least three waves. Therefore, the Bitcoin price is likely to gravitate towards the supportive convergence zone at 37,096 and 32,925 before descending further.
Hence, let’s await the price’s recovery towards the resistance convergence zone around 45,272 before deciding whether to enter the market or not. Following the main trend of Bitcoin will help us minimize risks when participating in the market.
Wishing all investors the ability to devise successful and insightful strategies.
By. Pham Thanh Bien
