Elliott Wave view: Bitcoin short term pullback to find support [Video]

Elliott Wave Forecast Team ElliottWave-Forecast.com

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.