Elliott Wave view: Bitcoin short term pullback to find support [Video]
|![Elliott Wave view: Bitcoin short term pullback to find support [Video]](https://editorial.fxsstatic.com/images/i/BTC-bearish-animal_Small.png)
Short Term Elliott Wave View in Bitcoin (BTCUSD) suggests that cycle from Jan 13, 2025 low is in progress as a 5 waves impulse / diagonal. Up from Jan 13, 2025 low, wave (1) ended at 109,356. Wave (2) pullback unfolded as a double three Elliott Wave structure. Down from wave (1), wave ((a)) ended at 100,087 and wave ((b)) ended at 105,424. Wave ((c)) lower ended at 97,750 which completed wave W in higher degree. Wave X ended at 106,447.
The crypto-currency has resumed lower in wave Y. Down from wave X, wave ((a)) ended at 99,038 and wave ((b)) ended at 100,473. Wave ((c)) lower ended at 91,555 which completed wave Y of (2) in higher degree. The instrument has turned higher in wave (3) but it needs to break above wave (1) to rule out any double correction. Up from wave (2), wave ((i)) ended at 102,569. Expect pullback in wave ((ii)) to find support in 3, 7, or 11 swing against 91,555 for further upside.
BTC/USD 90 minutes Elliott Wave chart
Bitcoin [Video]
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.