Monthly parameters suggest that Bitcoin could touch $22,942.81.

Price is being forced into a weekly correction that has led to volume loss, volatility and low sentiment.

However, for the upward trend to continue it is necessary to break the resistance of $27724.91, which was rejected a few days ago. Bearing in mind the aforementioned correction, a near support is found at $24885.37.

But the starting range for many will be between $23,196.56 and $26,162.12. Consequently, the price is expected to reach the next impulse up to $40520.42 during the following months on this Elliot wave one.