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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]

Author

Peter Mathers

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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