Bitcoin set to rally 7-12% from today's low

Using Elliott Wave Theory as our guide, the minimum waves are in place to suggest Bitcoin is about to take on a nice rally.

The decline from the April 13 high down to today's low fits really nicely as an (a)-(b)-(c) zigzag.

Wave (b) of the zigzag was a triangle pattern.

Wave (c) was equal in length to wave (a) of the zigzag, a common wave relationship.

If this is the pattern at play, then today's low of $25,810 low would hold and a rally up to $27,648 is highly likely. Further rally potential to 29K and even new highs above 31K are possible.