![Bitcoin (BTCUSD) Looking to extend higher [Video]](https://thecryptonotice.com/wp-content/uploads/2021/12/Bitcoin-BTCUSD-Looking-to-extend-higher-Video.jpg)
The Elliott wave view in Bitcoin (BTCUSD) recommends the rally from December 4, 2021 low is unfolding as a 5 waves impulse. Up from December 4 low, wave 1 ended at 49777.62 and pullback in wave 2 ended at 45478.74. Wave 3 greater is presently in development with neighborhood as another impulse in lower degree. Up from wave 2, wave (i) ended at 48307.34 and pullback in wave (ii) ended at 45572.94. The crypto currency then extends greater in wave (iii) towards 51864.56 and dips in wave (iv) ended at 49458.85. Final leg greater wave (v) ended at 52098.60 which finished wave (( i)).
Wave (( ii)) pullback is presently in development to fix cycle from December 17, 2021 low. The internal neighborhood of wave (( ii)) is unfolding as a zigzag structure. Near term, anticipate wave (a) to finish quickly, then the crypto currency must rally in wave (b) prior to turning lower once again in wave (c). As far as pivot at 45507.04 low stays undamaged, anticipate wave (( ii)) dips to discover assistance in 3, 7, or 11 swing for more advantage. Potential target greater is 100%– 161.8% Fibonacci extension from December 4 low which comes at 55616– 57985.
