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

Link to the More Trading Online Stocks and Shares Service:
https://www.patreon.com/MoreTradingOnline

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.

—————————————————————————————–
🧿 Links:

Bitget:
Trade with Bitget: https://partner.bitget.com/bg/MoreCryptoOnline
Receive a $15 bonus

Trade on Bybit:
Receive an up to $30,000 bonus (see terms on Bybit)
https://partner.bybit.com/b/MCO

Technical Analysis with TradingView:
https://bit.ly/Crypto_Tradingview

Set up trading bots with 3commas.io:
https://3commas.io/?c=tc1323713

Trade on Coinbase:
Receive $10 in BTC (see terms on website):
https://bit.ly/MCOinbase

Trade on Binance:
Receive a 15% fee discount (lifetime) when using this link.
https://accounts.binance.com/en/register?ref=XNWEZH08

Trade on Kucoin:
Receive a 20% fee discount:
https://www.kucoin.com/r/af/QBSSSL4T

Trade with eToro:
https://etoro.tw/3oFUKCk

Trade with Trading212:
Receive shares worth up to $100:
https://bit.ly/Trading212MCO

Protect your cryptocurrencies with Trezor:
https://bit.ly/morecryptoonline

Protect your cryptocurrencies with Ledger:
https://shop.ledger.com/?r=0fb3c8be2e46

Stay safe with NordVPN:
https://go.nordvpn.net/SH4s0

—————————————————————————————–
🧿 MCO World:

You can find the Technical analysis channel here:
https://www.youtube.com/channel/UCsl6Z6p7GOkczo8Cv-GH6Dg

You can find our German crypto Youtube channel here:
https://www.youtube.com/channel/UCRRrpK63KNPZMTLbv61UKRw

Please check out the More Crypto Online website:
https://www.morecryptoonline.com/

Official Social Media Links:
Instagram: https://www.instagram.com/morecryptoonline_official/
Twitter: https://twitter.com/Morecryptoonl
LinkedIn: https://www.linkedin.com/company/more-crypto-online/

—————————————————————————————–
🧿 Join the private MoreCryptoOnline membership group:
https://www.morecryptoonline.com/plans-pricing OR
https://www.youtube.com/channel/UCngIhBkikUe6e7tZTjpKK7Q/join OR
https://www.patreon.com/morecryptoonline

🧿 Join the private MoreCryptoOnline foundational video training course:
https://www.morecryptoonline.com/technical-analysis
—————————————————————————————–
⚠️ Very important: ⚠️
– please do not reply to anyone with the MCO logo in the YouTube comments who sends you a Whatsapp number. This is scam!
– please do not join any other MCO Telegram channel than the ones you received the links for. These are all scam!
– You find the official Social Media links down below in the description section.
—————————————————————————————–

☕️ Caffeine:
For additional support you can now buy me a coffee ;-):
https://www.buymeacoffee.com/morecrypto
—————————————————————————————–

Financial Disclaimer:
We are no financial advisors. The ideas presented in this video are personal opinions and for entertainment purposes only. You (and only you) are responsible for the financial decisions that you make. Ideas presented in this video are my opinions at the date of recording and may have changed after recording.

Hello and welcome to another update video about Bitcoin in yesterday’s video we talked about bitcoin’s range here and that Bitcoin could still form this wave four or even within this fourth wave here in white a smaller degree fourth wave that’s not enti High clear based on the micr structure both interpretations

Are possible what I try to say is that for example what we’re doing right now could be the fourth wave we’ve been waiting for a fourth wave to to fully play out or it could simply be a a a higher low in wave three still that’s what we’re watching in the white

Count whereas in the orange count we have to be ready to get back into the yellow support area however as I mentioned many times it takes a sustained break below 47k to confirm that and until that happens I’m looking for further upside because it would be

Ideal to get further upside and um due to the breakout we’ve had but of course I cannot rule out that this is a high B wave I’ve been highlighting that just because as long as we only have three waves to the upside it is also

Reasonable to assume that we are um in a high B wve however there’s no point in let’s say really assuming that so we have to consider it but we shouldn’t assume that as a primary scenario until we see some evidence for it because the trend is clearly up from the 23rd of

January low okay so um on the daily chart obviously we always start with a daily chart um at least you know in the morning once a day and on the daily chart here we can still see our white count really nothing has changed even what it’s happening right now which

Might seem um like a strong selloff on the 1 hour chart doesn’t really look in any way um significant at least not yet on The Daily time frame so it’s not really anything significant to report we haven’t even broken below the recent range lows now that might happen today

In case we get to that 47k level we have a bit of a trend line here that we might want to add um it’s a bit of a range as I said yesterday already okay so this is sort of what we’re watching but yeah a break below that trend line a sustained

Break will likely send it send us down into this support region that I’ve been showing you on the 1 hour time frame I haven’t got it marked out on the daily but what’s good to see is that Bitcoin reacted here to a Fibonacci level um pretty precisely the

52677 level which is the 1.78 6 extension just above that we’ve got the 200% extension at 54,1 149 and um so yeah the idea is that in the preferred scenario the fourth wave bottomed here obviously yeah that was the 23rd of January we’re now in that

Fifth wave um and even if micro support breaks of 47k it would likely just mean that the fourth wave is still unfolding and that this is still an unchanged range of the daily because we’ve got a small range up there in the 1 hour chart and we’ve got

A large range here on the daily time frame and as I said we’re far away from that range low so or the actual support so main support on The Daily is still 35k and it will remain that um support until we get the next five waves up and

Another 4 five pattern is missing for that now that’s far away but it really takes a break below 35k to suggest that a different scenario on The Daily is unfolding okay so it helps you understand how much of a draw down you need to see to know that the a different

Scenario is basically unfolding so now let’s go to the shorter time frame here you see the micro perspective I see only just normal fluctuations so I don’t see any major um change in structure here on the 1 hour chart anyway not you know even a change on the 1 hour structure wouldn’t really

Impact daily necessarily so um here on the 1 hour structure or 30 minute chart it is we see a little bit more detail here you have the fourth wave low still on the 23rd of January marked like that then um in the direct bullish white count a wave

One to the upside a wave two to the downside the wave three to the upside possibly still unfolding then a fourth and a fifth as I said it could be that the third is already in here that in again in the shortterm doesn’t matter at all um in

The orange count this is just a b wve because we only have three waves up we don’t have the full five waves and as long as we only have a three wave move up there’s still a high risk of breaking down and um what’s really important is

This support area here we haven’t even reached it yet it is between 47 and 50k with the 38.2 retracement level in between which is often called an ideal Target for a fourth wave because most wave fours get into that region around 48,3 120 in this case so as long as we

Hold above that level I really don’t have to change the count and I would encourage everybody not to panic if we get into that region should we get into that region at the moment we’re not even close so should we get into that region I urge everybody not to panic it has to

Be expected doesn’t mean it will happen it’s not necessarily a Target because we’re dealing with a correction and Corrections can also turn into sideways triangles which it might very well do um there’s nothing that would stop it from turning into a triangle here even though it would become quite a long triangle

The way it looks um it’s more likely that it’s turning into something like a wxy or it’s an ABC it’s as shown here but um the exact micr structure as I always say is not so important what is more important is can the market find support in this orange Zone before

Breaking below 47k and can we form a first five wve move up before breaking below that level that is really what Traders should be concerned about until then this is for me a range in which the market could just move up and down as long as as long as it wants to without

Changing really anything on the chart because this is literally just corrective price action with corrections we don’t make progress in the chart it’s just a counter Trend move the trending moves make progress the counter Trend moves well they are simply correcting that progress um slowing it down essentially but you don’t really make

Progress so likely micro structures here for example an ABC structure as shown here still possible um it would likely send us to $50,000 as I said yesterday it takes a break below the weekend low um at 50,000 round about 50, 670 to suggest that this seawave is

Unfolding but don’t be don’t be fooled um micr structures change very often okay so just a break below that weekend low could still indicate that it’s just forming I don’t know some kind of a different structure very complex corrective structure at the moment this could be a wve then an overshooting B

Wve and we might be in the c-wave down now absolutely possible but other interpretations are also possible at the moment due to the ongoing selloff it obviously appears reasonable to assume that we had a b-wave top and that we come down in wave C I mean if we look at

The resistances that were reached up there um because I can add the standard b-wave retracements it’s reacted to the 100% um basically um that I mean that is for flat structure quite common but yeah not much more really to add what can I say we’re in a Range we

Need to see a sustained break above the Tuesday High obviously that’s at 52980 to suggest that the wave five to the upside has already unfolded and obviously while I’m recording this we might or while you watch the video we might break that micro support but that’s not clear it’s only clear when

It’s broken because look at what happened here okay so there was just this small selloff and then a rapid recovery and it could just be forming here a series of higher lows lower highs so they what I want to highlight here prices turn around at an

Instant and don’t Focus so much on the Micro Focus on the levels okay that’s my update about Bitcoin 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 then 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 bye-bye