Bitcoin Elliott Wave analysis for 29/03/2019

Technical market overview:

The BTC/USD pair has again attempted to move up and break through the technical resistance zone located between the levels o f$4,076 - $4, 104, but so far failed to do so. Nevertheless, the bulls are still trying despite the last candle signal that looks like a Shooting Star. If they manage to break out higher, then the next immediate target is sth top for the wave (x) at the level of $4,122.

Weekly Pivot Points:

WR3 - $4,204

WR2 - $4,154

WR1 - $4,072

Weekly Pivot - $4,017

WS1 - $3,925

WS2 - $3,867

WS3 - $3,781

Trading recommendations:

There is another good trading setup for bears: opening sell orders in the area of $4,077 - $4,104 with a protective stop loss just above the level of $4,122. The take profit level will remain open for now, but the first one would be seen at the level of $3,967.

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