Bitcoin Elliott Wave technical analysis [Video]

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) 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.

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]