Bitcoin: Is there still a chance for another rally?

Ajouté : 2026-06-02

[00:00:00]the Bitcoin price has formed a five-wave decline from the swing high that formed here around 83k on the 6th of May. In this update, we want to talk about what that might mean.

[00:00:16]We will also take a look at the levels which will be relevant for the coming week.

[00:00:22]And we will take a look at Bitcoin dominance because we see at the moment some altcoins go up quite nicely and we will take a look at what that means. You know, is this already the beginning of a new altcoin season? So, we'll take a look at all of that. Because of the five-wave decline, it has become more likely that the next bounce will be corrective. What does that mean? It means that the next bounce is likely going to be a corrective move, a three-wave move, and will likely form a lower high.

[00:00:52]This is because after five waves down, Elliott Wave tells us that we should expect a three-wave move.

[00:01:03]And then we can get another five-wave decline.

[00:01:05]There is still a chance, though, that this is forming a larger three-wave decline. Um that would involve still the possibility of a larger rally, potentially even to 95k.