Bitcoin BTC Price News Today – Technical Analysis and Elliott Wave Analysis and Price Prediction!

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Bitcoin BTC Price News Today – Technical Analysis and Elliott Wave Analysis and Price Prediction! In this video I talk about the Bitcoin BTC Cryptocurrency price and carry out a technical analysis. I also talk about my Bitcoin Elliott Wave count and discuss where the price could be going next.

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Hello and welcome to another update video about Bitcoin Bitcoin saw that selloff that we’ve been watching for that we’ve been waiting for um this fifth wave of our wave a in this decline so let’s talk about the entire structure briefly obviously we are dealing here

Still with this a b c structure in a fourth wave the idea was that in this ABC structure we’re still in the a wve which can be a three-wave move or a five-wave move however because the market didn’t show any well let’s say buy response really to this previous

Fibonacci support and and after forming three waves down it was quite likely that we would get a fifth wave to the downside and this is what we see yeah precisely this is what we see at the moment that we’ve seen actually today the fifth wave and I made you aware in

The previous video that you know a break to the downset of this um flag first of all it’s still the primary expectation and it would confirm at the same time the breakdown into this target area um between 3931 14 and 4,887 with one additional level to watch at

4,585 and it basically got there okay in the into the you could say the upper range and price is seen a first reaction so let’s see if this is already the reversal possibly not yet okay it might get one more low looking at the structure here it seems like it might

Need another low um but you know sometimes when we talk about these micro structures the chart doesn’t always give us that fifth wave down so it could be that this was a one this was a two this is a three maybe we get one more four

And five well that’s not so much to be seen as predictive this structure it is more useful to figure out what the resistance is that we now need to look at um because micro resistance can tell us when the trend is likely changing now just visually I

Think it will already indicate that the trend is changing back to the upside and that this a wave has finally formed the low once the price breaks back above this trend line okay this previous breakout Point getting above that level would have bullish implications in my opinion in addition to that a break

Above what I have labeled as wave two high would um be further confirmation that a low is is in and that would be a break above $42,882 1,752 okay so a break above that level a sustained break would be an indication that we don’t get another low yeah so

That’s sort of how I see this um 41750 basically is the key level then a break Above This ascending trend line would be the next level next level of Confirmation and a break above the wave too high the next level and then I think

We are in this B wve and um I mean the B wve doesn’t really have a Target okay there is not really the one target level that a b-wave normally reaches however um there are some levels to watch and healthy bewave would take the price into the region between you know

45 46k sort of in into the region here around the golden ratio but literally all of these FIP levels are relevant starting from I mean the very first one but that’s basically a little weak that would be 43675 better would be 44,6 48 or 4,640 they are healthy wave B

Corrections or corrective uh or FIP levels for healthy corrections but yeah basically I’m watching if the Wave A has already formed a low it’s possible but I just gave you a key level to watch down there um as I said the price should get into this region between 4,887 and 39,0

314 it’s there but still has a little bit more space it’s also not a must that the price stops there but it’s just an area of let’s say probability where the price should turn around and ideally remember that the B wve has started um in the previous video we talked about

Potential bullish divergences now on the 1 hour chart that did not materialize because what we talked about was okay maybe if it comes down a little lower we see a bullish Divergence on the 1 hour chart now not on the 1 hour um but on the 4H hour there is a bullish

Divergence okay okay so the question is just does it hold does it hold or does it break but for now the price made a lower low the RSI formed a higher low and both are in oversold territory so it’s an ideal spot actually for the price to turn around um with one more

Low it could still show a bullish Divergence we’ll see um but yeah I think all the levels are clear resistance is clear another low the level would also be clear um Al also please be aware that should the price not have bottomed there

Are a few prev pre of the free uh pre a few of the previous swing lows here that could provide additional um structural support but yeah basically no surprise and uh I’m quite glad that it’s produced the five waves down now so let’s see if the b-wave starts in the coming days or

Over the coming sessions hope you like the update if you did please hit the like button leave a comment and subscribe and if you really like the content please check out the channel membership also make sure that you follow us on Instagram and Twitter for additional content thanks a lot for watching [Applause]

Bye-bye