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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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 we take a look at the chart here um on the 1 hour time frame yeah and you can see that really not much has changed overall right um not much has changed so I really only want to focus on the 1 hour time frame

Here and we can see that um the chart has moved up obviously from the 23rd of January low here to this 30th of January high around 43850 we had that corrective pullback and then a very strong rally the idea is that um this year was a wave 1 to the

Upside wave two pullback we’re now basically in the third wave that’s unchanged from previous updates wave for pull back still to come wave five rally still to come to 58,000 plus yeah um and that wave count that structure could take us fairly clearly and and Swift in

In a very Swift way to new all-time highs um obviously still it won’t happen without any pullbacks the analysis is clearly bullish and I would only change my perspective really with a sustained break below $47,000 and and um at the moment in this scenario it seems quite plausible to

Assume that the price will break out of the range to the downside and then land in our support area yeah because the white count is the primary count the preferred scenario and in this scenario obviously um we could get one more high in wave three basically the subwave

Structure of wave three is Wave 1 wave two wave three wave four wave five so so I’d like to see actually a more healthy Wave 4 it already is let’s say healthy enough but it’s only been moving sideways so it would actually be preferred to um give us a clear wave for

Maybe testing one of these Fibonacci levels that we talked about um between 50,000 and $47,000 um between the 23.6 FIP level and the 50% and if we zoom in here a little bit then you can see the structure and you can see that in the orange count which at the moment is at

Least my best assumption for this micro structure we have completed already the wave one of wave C the wave two of the wave C and we could now indeed be uh in the in the third wave the problem is that it’s not really coming down and not

Really following through so we have to remain flexible with regards to the wave count it’s not really a prediction it’s just what I think is currently a very likely count it is also possible that the wave four already bottomed here but then there’s literally really no

Evidence for that okay and um yeah I don’t see any evidence at the moment that it’s breaking to the upside so I’m still watching here for potentially a little bit further price action to the um well sideways within the range we have a breakdown point which is the

Lower boundary line of this um Channel or it’s not really a channel it’s a range that’s at 50,000 um 650 pretty much 600 if we go below that level on a sustained basis then we should visit this or support region and yeah but again that would not be bearish it would

Simply be the normal pathway That Way Forward normally take and to the upside we’re looking at this fifth wave that could take us to 54,3 60 next in this um fifth wave potentially of wave b or wave three the orange count yeah and the white count the subwave structures are

The same but it could obviously fail after the third wave wave I mean it can always fail it’s just that we need to figure out what is the relevant support level and the price obviously needs a little bit of space it’s a volatile market so we can allow the price to come

Down to 47k basically without changing our assumption so yeah I mean I I think it can be summarized in a way that we say it is a bullish analysis um the 47k level is the Line in the Sand between a bullish continuation to the upside and a failure because 47k this analysis um

Well the analysis tells us that we are likely coming down back into the yellow support range but as long as that’s holding we focus on the upside and we have to give it space in case it breaks to the downside out of the range to test these FIP levels but overall it is

Possible to either move up directly from here then we have this Tuesday high as a breakout Point um or after testing the lower fibs to go up further in this scenario the scenario will only change with a break below 47k so at the moment I think it’s looking quite good but

Short-term downside definitely has to be considered