Bitcoin Elliott Wave technical analysis [Video]
|BTC/USD Elliott Wave technical analysis
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Function: Counter Trend.
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Mode: Corrective.
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Structure: Zigzag.
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Position: Wave b.
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Direction next higher degree: Wave ((II)).
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Wave cancel invalid level: Not specified.
Details: Bitcoin (BTC/USD) is currently in an Elliott Wave corrective phase. The asset recently completed Wave A and is now likely entering Wave B. This phase represents a short-term recovery before Bitcoin resumes its downtrend towards Wave C.
BTC/USD trading strategy
Bitcoin (BTC/USD) continues to trade within an Elliott Wave corrective structure, having tested the $76,700 support level. The price action suggests an upward movement as part of Wave B, with the potential to test key resistance before further decline into Wave C.
- The current correction follows an (a)-(b)-(c) pattern.
- The recent low of $76,703 marked the end of Wave (a).
- Wave (b) is now forming an uptrend.
- The major resistance level is at $90,792, a key reversal point for Wave B before continuing downwards into Wave C.
Trading strategies
Strategy
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For short-term traders (swing trade):
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Bitcoin is expected to rebound toward the $90,000 – $91,000 resistance zone.
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Short-term traders may find speculative opportunities in Wave B.
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Risk management
- If Bitcoin approaches the $90,800 resistance, traders should watch for reversal signals to prepare for a potential strong Wave C downturn.
BTC/USD Elliott Wave technical analysis
-
Function: Counter Trend.
-
Mode: Corrective.
-
Structure: Zigzag.
-
Position: Wave b.
-
Direction next higher degree: Wave ((II)).
-
Wave cancel invalid level: Not specified.
Details: Bitcoin (BTC/USD) remains in an Elliott Wave corrective structure. The price has recently completed Wave A and is now likely transitioning into Wave B, which represents a temporary bounce before continuing into Wave C.
BTC/USD trading strategy
Bitcoin is still trading within a corrective wave structure after dropping to the $76,700 support zone. The price has started a Wave B rebound, potentially testing resistance at $90,792, before reversing into Wave C.
- The correction follows a (a)-(b)-(c) pattern.
- The recent low of $76,703 marked the end of Wave (a).
- The next major resistance is at $90,792, a possible reversal zone for Wave B before the price enters a downward Wave C.
Trading strategies
Strategy
-
For short-term traders (swing trade):
-
Bitcoin is expected to rebound to the $90,000 – $91,000 resistance level before declining again.
-
Short-term traders may find speculative opportunities during the Wave B movement.
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Risk management
-
If Bitcoin nears the $90,800 resistance, traders should monitor for potential reversal signals before a significant Wave C downtrend.
Bitcoin Elliott Wave technical analysis [Video]
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