TRENDING:
EUR/USD
GBP/USD
XAU/USD
Trade War
USD/CAD
AUD/USD
Sponsored by
Login
|

Bitcoin (BTC/USD) looking to extend higher as impulse [Video]

Bitcoin (BTC/USD) looking to extend higher as impulse [Video]
Elliott Wave Forecast TeamElliott Wave Forecast TeamElliottWave-Forecast.com

Short Term view of Bitcoin (BTC/USD) suggests that cycle from 9.11.2023 low is in progress as an impulse Elliott Wave structure. Up from 9.11.2023 low, wave 1 ended at 27493.1 and pullback in wave 2 ended at 25994.2. The crypto currency then extended higher again in wave 3. Up from wave 2, wave ((i)) at 28582.4 and pullback in wave ((ii)) ended at 26526.78 as the 90 minutes chart below shows. The crypto-currency has extended higher in wave ((iii)).

Up from wave ((ii)), wave i ended at 27113.3 and dips in wave ii ended at 26825.8. Bitcoin then extended higher in wave iii towards 27972.8 and dips in wave iv ended at 27680.1. Final leg wave v ended at 39377,3 which completed wave (i). Pullback in wave (ii) ended at 28042.70. Bitcoin then extended higher again in wave (iii). Up from wave (ii), wave i ended at 30335.7 and wave ii ended at 29669.50. Wave iii higher ended at 35150 and pullback in wave iv ended at 32671.30. Final leg wave v ended at 35152 which completed wave (iii). Pullback in wave (iv) ended at 33250. Near term, expect Bitcoin to extend 1 more leg to end wave (v) of ((iii)), then it should pullback in wave ((iv)) and turns higher again. Near term, as far as pivot at 26526.78 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.

Bitcoin (BTC/USD) 90 minutes Elliott Wave chart

BTC/USD Elliott Wave video

Author

Elliott Wave Forecast Team

Elliott Wave Forecast Team

ElliottWave-Forecast.com

More from Elliott Wave Forecast Team
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

BNB Price Forecast: BNB slips below $855 as bearish on-chain signals and momentum indicators turn negative

BNB Price Forecast: BNB slips below $855 as bearish on-chain signals and momentum indicators turn negative

BNB, formerly known as Binance Coin, continues to trade down around $855 at the time of writing on Tuesday, after a slight decline the previous day. Bearish sentiment further strengthens as BNB’s on-chain and derivatives data show rising retail activity.

Top Crypto Losers: Aster, Midnight, and Ethena extend losses as selling pressure mounts

Top Crypto Losers: Aster, Midnight, and Ethena extend losses as selling pressure mounts

Aster, Midnight, and Ethena are the altcoins with the most losses over the last 24 hours, as the broader cryptocurrency market weakens amid Bitcoin dropping below $86,000. ASTER, NIGHT, and ENA risk further losses as selling pressure mounts and risk-off sentiment spreads across the crypto market.

Ethereum Price Forecast: BitMine acquires 102,259 ETH as price plunges 5%

Ethereum Price Forecast: BitMine acquires 102,259 ETH as price plunges 5%

Ethereum (ETH) treasury company BitMine Immersion scaled up its digital asset stash last week after acquiring 102,259 ETH since its last update. The purchase has increased the company's holdings to 3.96 million ETH, worth about $11.82 billion at the time of publication.

Strategy scoops about $1 billion in Bitcoin for second consecutive week

Strategy scoops about $1 billion in Bitcoin for second consecutive week

Bitcoin (BTC) treasury and financial intelligence firm Strategy expanded its holdings following another round of weekly accumulation.

Orange Juice Newsletter – Smart insights by real people. Every day.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.