Bitcoin is trading higher as expected, after a decisive break out of a base channel that also acted as a support after a retest earlier this week. We can see a nice and sharp move up, currently into 52k-53k area where the bitcoin may slow down as former high can represent a strong resistance.

So, be aware of some slow down before uptrend may resume, ideally after the fourth wave. Support on nay set-back from here would be at 48k, but if we see extensions above 53 and towards 56, then of course 53k would be the support to watch.

Regarding the bearish picture, we really should pay attention to 45k , seen as the invalidation level of the bullish price action.

Bitcoin 4h Elliott Wave analysis

Bitcoin Elliott Wave


Check more of our analysis for currencies and cryptos in members-only area. Visit EW-Forecast for details!

By using Wavetraders website, any services, products, and content contained here, you agree that use of our service is entirely at your own risk. You understand that there is a very high degree of risk involved in trading on the markets. We assume no responsibility or liability for your trading and investment results. The charts, and all articles published on www.wavetraders.com are provided for informational and educational purposes only!

By using the information and services of www.ew-forecast.com you assume full responsibility for any and all gains and losses, financial, emotional or otherwise, experienced, suffered or incurred by you.

Cryptos feed Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: What’s next after cryptos meet stiff resistance

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: What’s next after cryptos meet stiff resistance

Bitcoin price has shown incredible resilience after its massive crash in the second week of June. Since then BTC has produced considerable gains over the past week and the start of a new week brings the promise of even higher returns.

More Bitcoin News

All you need to know about Cardano’s Vasil hard fork and how ADA price will react

All you need to know about Cardano’s Vasil hard fork and how ADA price will react

Cardano price seems to be preparing for massive gains as Vasil hard fork takes one step closer to becoming a reality. In a recent Twitter thread, IOHK, the developers behind Cardano announced the launch of Cardano node 1.35.0 on June 25.

More Cardano News

Traders must watch out for this bull trap SafeMoon price is forming

Traders must watch out for this bull trap SafeMoon price is forming

SafeMoon (SFM) price looks promising today for a pop higher and a test of the technical moving average at around $0.000600000. With the current soft patch in global markets, tail risks are still very much present and could flare up at any moment.

More SafeMoon News

SEC vs. Ripple: Brad Garlinghouse announces expansion out of the US if outcome is unfavorable

SEC vs. Ripple: Brad Garlinghouse announces expansion out of the US if outcome is unfavorable

Brad Garlinghouse, CEO of Ripple, has affirmed a move outside the US if the payment giant loses the SEC vs. Ripple lawsuit. Ripple has been embroiled in a legal battle, defending its sale of XRP and the altcoin's position as a non-security since December 2020.

More Ripple News

Bitcoin: Everything you need to know about BTC 200-week MA

Bitcoin: Everything you need to know about BTC 200-week MA

Bitcoin price has gone through turbulent times over the last few months. From reaching a new all-time high to hitting yearly lows and revisiting levels since 2020, the crypto markets have been extremely volatile.

Read full analysis

BTC

ETH

XRP