Bitcoin Elliott wave: Another buying setup
|Hello fellow traders. As our members know Bitcoin BTC/USD has been giving us a lot of good trading setups recently. In this blog, we’re going to take a look at the latest Elliott Wave setup of Bitcoin. Cryptocurrency $BTCUSD is showing impulsive- bullish sequences. We’ve been calling for a rally and recommending members to keep buying the dips in 3,7,11 swings whenever chances occur .
BTC/USD 1 Hour Elliott Wave Analysis 2.10.2021
BTC/USD is bullish against the 43102.28 low in first degree. Cryptocurrency is giving us pull back wave ((2)) which still looks incomplete at the moment. The price is missing another leg down toward blue box area : 51406.1-46024.8 ( buyers zone). From the Blue Box area area we expect rally to take us toward new all-time highs ideally. We don’t recommend selling it. Strategy is buying the dips at the proposed blue box area. The main trend is bullish so we expect to see 3 waves bounce at least from the blue box. As soon as the price hits 50Fibs against the (B) blue high we will make long position risk free.
BTC/USD 1 Hour Elliott Wave Analysis 4.11.2021
Eventually Bitcoin made leg down toward blue box area. The cryptocurrency found buyers as expected and giving us nice reactions from the blue box . ((2)) black pull back completed at 50414.9 low. The price is showing now higher high sequences from the mentioned level. We would like to see further rally and break above ((1)) black peak to confirm next let up is in progress. We don’t recommend selling BTC/USD in any proposed pull back and favor the long side from the blue box. Members who took long trades are now enjoying profits in risk free positions.Our system is not hard to understand. We’re always trading in the direction of the main trend. Idea is to enter at the extreme areas which we mark on the charts as blue boxes.
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