We can see some bigger recovery in the Crypto market, but looking at the Crypto total market cap chart, we can see it rising out of wave B triangle pattern which indicates for wave C of a three-wave A-B-C corrective rally. However, there can be still room towards 2.2T level to complete a five-wave cycle within wave C, but only while the price is above 1.87T invalidation/bearish level.
BTCUSD is making bigger recovery in the 4-hour chart, but notice that a rise is coming out of a triangle pattern, which suggests a corrective movement. So, according to two different daily interpretations, we are tracking an (A)-(B)-(C) corrective rally, where wave (C) can be now in progress and there can be room even up to 50k-54k resistance area before we will see another slow down.
Bitcoin 4h Elliott Wave Analysis
