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 we start on The Daily time frame um really hasn’t changed its overall posture for more than a couple of weeks I hope I hope by now everybody understands the structure um and what the perspective is because

It is actually quite simple um there is one level that if broken means that we likely dip back into the yellow support Zone which is not a Target but it is support but it’s likely to retest it if the 47,000 level is holding so the idea is

At the moment that we are in a fifth wave to the upside the fourth wave bottomed here on the 23rd of January and we’re now in the fifth wave to Poss possibly yeah the high 50k region or even 60k uh one more high is needed to

Complete this move up we only have three up that’s clearly you know visible um but we like to have five up that’s a whole Elliot wave structure and then if we talk about micro support well as you can see it’s 50 no 47 47k the support region which is

Typically tested in a fourth wave has not yet been tested as I said it’s a support area it’s not a Target but it appears likely that it will be tested before the fifth wave starts I’d like to get it tested it would provide a little bit more of a healthy and standard Wave

4 again they don’t need to be tested right um but I always lean with probabilities which is why I say I I would like it to test um I would like the price to test that orange support region at least the 50k level better would be 48 8.3 I haven’t drawn that

Support area very accurately they are more accurate on the 1 hour chart but yeah it’s 48.3k is here the 38.2 retracement that’s typically the ideal level to test for in a way 4 and below the 50% Fibonacci level which is by the way too deep um or lower than that yeah is too

Deep for away 4 we would have to change perspective and start to assume that the orange count is playing out which doesn’t change the overall assumption but it means that this wave four which likely bottomed on the 23rd of January is still unfolding in a flat structure possibly a so-called running running

Flat correction in which the c-wave does not end below the low of the a-wave so you see this is actually um quite simple because there’s just one level that distinguishes between these two scenarios and that’s the $47,000 level as long as this level isn’t broken the current assumption

Which is the White Wave count remains unchanged and then over the course of the coming sessions we should see Rising prices overall and that hasn’t changed from the moment on when we entered this correction um which was here on the 16th 15th of February okay so now let’s take

A look at the 1H hour chart also here nothing has changed for more than a week um oops not really in terms of assumptions I’ve made a small tiny change to the micro structure yesterday if you’re not aware um yet because I mentioned in the last video all I’ve done in the previous

Video I’ve highlighted or videos I’ve highlighted that the third wave is likely still unfolding but due to the depth of the fourth wave or this consolidation and the not not necessarily the depth more the length the duration I think it is now more more likely that we’re already in this main

Wave four basically here’s the wave two that was the swing low on the first of FB that this is the matching wave four okay um you see also that this wave two was quite a sharp correction it was a correction with a clear swing low so a zigzag pattern um most likely whereas

The wave four here seems more like a sideways correction that’s typical as well not so important but um aligns with the guideline of alternation in Elliot wave if one of them is sharp the other one is rather sideways and in terms of sideways it means you know maybe we have

An overshooting b-wave which we had yeah so also here you see the micro structure wave four bottomed on the 23rd of January Wave 1 Wave 2 wave three Wave 4 W five as I mentioned on The Daily time frame it seems likely that this orange support area will be tested 47k is the

Relevant support below that level we’re likely going to test the yellow box that would be the short-term bearish but overall still bullish alternative would likely offer um would likely offer again the opportunity to maybe add positions and yeah but I don’t you know I cannot predict we’re going to get there not

Until the 47k level breaks so anything between where we are now and 47k is still part of the current structure on the micro level so we would be watching for prices either directly or after testing of one of these FIP levels to go higher this is not a huge

Distance anyway so we just have to leave it that space okay allow it that that space um it can move freely in this region see it as a little bit of a range obviously we’ve got that structural range here which is Con strained by the green lines and I’ll take this

Descending trend line out now CU it broke yesterday but Bitcoin has not broken the range as you can see um and the break above the upper boundary line would be a signal that we go up more directly that would be a break above 5286 there’s literally not much more to

Add here so hope you like the update if you did please hit the like button leave 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 [Applause] bye-bye