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 continues to move in this price range here and we are still watching for a potential breakout um yeah either way both ways that’s quite cool both um directions could be bullish overall so the the advantage of

Using Elliot wave is that it gives you context it gives you context um if you use this without Elliot wave you might say Okay a break below the lower boundary line here of that range might be bearish well shortterm maybe but we know that looking at the context we

Actually have a support Zone put onto the chart here and defined it uh which is between 47k and 50k so if the price dips into this this region then there’s a good chance of finding support there and the overall structure will not be affected At All by the price you know

Dipping into this region and it’s uh we have support at $50,000 um 48,000 320 and 47,000 interestingly um we also have previous swing lows in these areas so structural support where the 38.2 retracement level is which is typically an ideal Target for such a fourth wave we currently in a

Fourth wave if you missed the previous updates um so that would be an ideal Target so I I mean I would prefer the price still to get there yeah then we have the 50% Fibonacci level which is at 47k also a previous swing low in that

Area um main takeaway I think is so important to realize that only really if we break below 47k this scenario I’m showing you which allows for further upside as soon as wave four is complete is you know only only below 47k I would have to revise it well I don’t you know

It’s already we already have a backup plan that’s the other advantage of Elliot wave so we know that below 47k we have to assume that this B wve formed the top as per previous updates but until then I’m watching for one more high in either the b wve or the third

Wave in white the white count is the preferred scenario which means that after one more High which could trigger the $ 54,3 level maybe a little higher another fourth wave should occur and then another fifth wave that can take us maybe even into the 60k region that will

Be exciting so um yeah it’s good to see Bitcoin is consolidating above 50k and we might only touch 50 I mean see um I can only offer the support levels and highlight against which levels the trend is still up because you know technical support structural support can break but

The Fibonacci levels can still offer support because as long as the market mood hasn’t changed um we have to we just have to give it the space okay again these FP levels are the mathematical representation of Market mood so they tell us when the market changes it’s sentiment and that will be

Below 47k a sustained break below 47k will mean that we’re likely revisiting the yellow support Zone down there um but yeah that that remains uh to be confirmed it’s not what I’m primarily watching for so let’s zoom in a little bit but as I said in the last video

There isn’t much I can really offer here in terms of additional Clarity um I have this road map laid out the yellow count is sort of an alternative it suggests that yeah we could have botom here already but that requires a break above the green line so any sustained break

Out of the range to the upside would already trigger wave five I think it’s already a healthy wave four um I would still prefer it to go a little lower uh possibly to 48320 or the area between 50k and 48.3k um and a sustained break below this green line below the lower boundary

Line will likely mean that we are heading here to the downside I mean in terms of I’m already offering a micro count here I mean anything that is even smaller degree is really not reliable at all um if I had to give you something if someone was going to twist my arm here

Well I would to be honest I would argue that one of the reasonable interpretations is that this c-wave to the downside of wave4 is an ending diagonal which means that this is likely an a-wave this is like l a b wve and we might see that c-wave um but that is

Really really um something yeah potential to observe that means the c-wave could take us to the 100% extension of a and that might take us to around about 50,100 yeah maybe you know maybe longer I mean it’s only really the first Target to watch so um that’s that but the third

Wave itself could also be a little longer because if we then look at the length of the wave 1 compare that to the length of the third wave that should minimally get down to 49.7 that already tells you that the seawave is likely extending a bit so yeah it’s it’s um you

Know that’s why this is sort of the micro counting doesn’t really offer much help it doesn’t really offer predictive Powers but the support levels are there breakout points are there and hopefully that helps so hope you like the update if you did please hit the like button

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