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 degree: Wave ((II)).

• Wave cancel invalid level: Not specified.

Details: Bitcoin (BTC/USD) is currently in an Elliott Wave corrective phase. The asset recently completed Wave A and is now likely entering Wave B. This phase represents a short-term recovery before Bitcoin resumes its downtrend towards Wave C.

BTC/USD trading strategy

Bitcoin (BTC/USD) continues to trade within an Elliott Wave corrective structure, having tested the $76,700 support level. The price action suggests an upward movement as part of Wave B, with the potential to test key resistance before further decline into Wave C.

• The current correction follows an (a)-(b)-(c) pattern.
• The recent low of $76,703 marked the end of Wave (a).
• Wave (b) is now forming an uptrend.
• The major resistance level is at $90,792, a key reversal point for Wave B before continuing downwards into Wave C.

Trading strategies

Strategy

• For short-term traders (swing trade):

  • Bitcoin is expected to rebound toward the $90,000 – $91,000 resistance zone.

  • Short-term traders may find speculative opportunities in Wave B.

Risk management

• If Bitcoin approaches the $90,800 resistance, traders should watch for reversal signals to prepare for a potential strong Wave C downturn.

BTC/USD Elliott Wave technical analysis

• Function: Counter Trend.

• Mode: Corrective.

• Structure: Zigzag.

• Position: Wave b.

• Direction next higher degree: Wave ((II)).

• Wave cancel invalid level: Not specified.

Details: Bitcoin (BTC/USD) remains in an Elliott Wave corrective structure. The price has recently completed Wave A and is now likely transitioning into Wave B, which represents a temporary bounce before continuing into Wave C.

BTC/USD trading strategy

Bitcoin is still trading within a corrective wave structure after dropping to the $76,700 support zone. The price has started a Wave B rebound, potentially testing resistance at $90,792, before reversing into Wave C.

• The correction follows a (a)-(b)-(c) pattern.
• The recent low of $76,703 marked the end of Wave (a).
• The next major resistance is at $90,792, a possible reversal zone for Wave B before the price enters a downward Wave C.

Trading strategies

Strategy

• For short-term traders (swing trade):

  • Bitcoin is expected to rebound to the $90,000 – $91,000 resistance level before declining again.

  • Short-term traders may find speculative opportunities during the Wave B movement.

Risk management

• If Bitcoin nears the $90,800 resistance, traders should monitor for potential reversal signals before a significant Wave C downtrend.

Bitcoin Elliott Wave technical analysis [Video]