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 degrees: Wave ((II).
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Wave cancel invalid level:
Details:
Bitcoin (BTC/USD) is currently in an Elliott Wave Correction pattern. The price has recently completed Wave A and may now be entering Wave B, which represents a short-term rebound before continuing downward toward Wave C.
Bitcoin/US Dollar (BTC/USD) trading strategy
BTC has recently reached a low of $76,703 and is witnessing some buying pressure. If the price rebounds, it may signal the start of Wave B, a temporary upward correction. Should BTCUSD move higher to test the $90,792 resistance level—an important threshold—failure to break above it could indicate a potential reversal. This resistance zone is critical for traders to monitor for short-term profit opportunities. If BTC fails to breach $90,792 and begins declining, the next target for Wave C could be around $73,902, a key support level.
Trading strategies
Strategy
- Long strategy
- For short-term traders (Swing Trade)
- If the price nears $90,792 and shows a reversal signal, it may present an opportunity to open a short position.
- For short-term traders (Swing Trade)
Risk management:
- If BTC successfully breaks $90,792 and sustains above this level, traders should reconsider the Elliott Wave count for a potential new wave structure.
BTC/USD Elliott Wave technical analysis
-
Function: Counter Trend.
-
Mode: Corrective.
-
Structure: Zigzag.
-
Position: Wave b).
-
Direction next higher degrees: Wave ((II).
-
Wave cancel invalid level:
Details:
Bitcoin (BTC/USD) remains in an Elliott Wave corrective phase. After completing Wave A, the price is expected to move into Wave B, which acts as a short-term recovery before a likely continuation toward Wave C.
BTC/USD trading strategy
BTC has established a low at $76,703 and is attracting buying interest. If the price rebounds, it may confirm the start of Wave B, a temporary upward correction. If BTC attempts to test the $90,792 resistance but fails to break through, it could indicate an upcoming price reversal. This zone is essential for traders to observe for potential short-term profit opportunities. If BTC is rejected from $90,792 and begins to decline, the next downside target for Wave C could be around $73,902, a significant support area.
Trading strategies
Strategy
-
Long strategy
-
For short-term traders (Swing Trade)
-
If the price nears $90,792 and exhibits a reversal signal, it may be a suitable opportunity to initiate a short position.
-
-
Risk management:
- If BTC decisively breaks $90,792 and holds above this level, traders should reconsider the wave structure and update their market analysis.
Bitcoin Elliott Wave technical analysis [Video]
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