Bitcoin Elliott Wave technical analysis [Video]

BTC/USD Elliott Wave technical analysis

• Function: Counter Trend.

• Mode: Corrective.

• Structure: Zigzag.

• Position: Wave C.

• Next higher degree direction: Wave ((II)).

• Wave cancel invalid level: (not specified).

Bitcoin/U.S. Dollar (BTCUSD) Trading Strategy:

Although Bitcoin has shown a recovery over the past week, and some believe the upward trend may resume, Elliott Wave analysis still identifies the movement as corrective, within an a–b–c structure. We are approaching a downward move in wave c, which may result in a more significant drop than currently anticipated.
Wave (V) has concluded → The market is entering an A-B-C corrective pattern.
Wave b is developing into a Double Zigzag pattern (W)-(X)-(Y). The price is nearing the end of wave b and is about to start wave c.

Trading strategies

• Strategy

  • For Short-Term Traders (Swing Trade):

    • Monitor for reversal signals around the $88K–91K zone.

    • On spotting a reversal or divergence → Initiate a short position.

    • Target Range: $68,000 → $62,000

  • Risk management:

    • If Bitcoin breaks above $112K clearly → This would invalidate the corrective structure and suggest a bullish scenario.

BTC/USD Elliott Wave technical analysis

• Function: Counter Trend.

• Mode: Corrective.

• Structure: Zigzag.

• Position: Wave C.

• Next higher degree direction: Wave ((II)).

• Wave cancel invalid level: (not specified).

Bitcoin/US Dollar (BTC/USD) trading strategy:

Despite recent upward price action in Bitcoin, Elliott Wave indicators suggest that the market remains in a corrective a–b–c structure. We are moving towards wave c, which could push the price downward beyond common expectations.
Wave (V) is complete → We are in an A-B-C corrective phase.
Wave b is shaping into a Double Zigzag (W)-(X)-(Y), with the price nearing the end of wave b and preparing for wave c.

Trading strategies

• Strategy

  • For short-term traders (Swing Trade):

    • Look for reversal signs within the $88K–91K range.

    • Once a reversal or divergence is confirmed → Consider shorting.

    • Target Zone: $68,000 → $62,000

  • Risk management:

    • A definitive break above $112K would negate the corrective setup and indicate a bullish reversal.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA.

BTC/USD Elliott Wave technical analysis [Video]