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

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

[Music]
hello and welcome to another update
video about Bitcoin so Bitcoin saw a
little bit of a surch earlier today um
but ried only the way this looks now and
we’re really on a smaller time frame on
the smallest time frame that you can
really use here or it doesn’t make any
sense anymore anyway cuz the smallest
time frames they include so much
nonhuman Behavior but trading stuff um
that we need to sort of yeah I would not
go below normally 30 minute okay but
looking at this I mean it ried only in
three waves that to me looks like a
three-wave rally and we didn’t even form
a new high so it’s possible if this
fails now that this wave two pullback is
now finally unfolding at the same time
if we can hold the intraday low and
break above the Monday high this would
in my opinion strongly indicate that the
blue count is taking the lead at the
moment we are a little bit in no man’s
land let me take you through these
patterns let’s go maybe to the 30 minute
chart don’t need to talk about the
overall um scenario anymore because we
did that in previous videos and we want
to just keep it short and keep it to an
intraday update here so we’re still
dealing here with basically three
scenarios
um they are all overall bullish okay but
the degree of pullback that the market
offers differs between them the yellow
one is still that I’m you know what I
mentioned in the last video I’m leaning
to okay that’s what I highlighted in my
last update I’m leaning to the yellow
count which indicates a five wve move to
the upside okay it’s a bit ugly but it
allows for you know us to count five
waves up in a diagonal pattern from here
wave two pullback could start as like I
don’t know an ABC structure or something
in a wave two and as long as we’re
holding the support area and that hasn’t
changed since the last video cuz the
high hasn’t changed we haven’t formed a
new high so the support area is still
between 61,800 pretty much and 64,0 220
as long as we’re holding Above This
support area we don’t at least break
below the 78.6 retracement down there so
as long as we’re holding above it the
expectations are for the price to form
the yellow five wave structure to the
upside and then yeah possibly the next
move up can take us in the third wave to
70k and Beyond but first of all we need
the wave two to fill in see if the price
can stabilize in this support Zone and
then from here there’s a good chance a
third wave rally could start this is one
interpretation that I will be leaning
towards as long as the price doesn’t
break above 6
7,852 so I mentioned to you in the
previous video that I can sort of
justify this scenario as long as the
price holds below
67,5 uh 852 because we break above that
level which is see the 78.6 extension
it’s becoming more probable that this is
the blue count or white okay but yellow
in my opinion as long as we stay below
that level because otherwise the yellow
wave five of one becomes a little bit
too
long so that should be clear now the
parameters for the yellow count um that
would be confirmed further if we break
below the trend line so that Trend
channel is still holding the lower trend
line is still holding and therefore
there’s no sign that this deeper wave
two pullback has started if it is if it
has started then the smaller micro
support area there could be an area to
watch for a
reversal then we obviously have the blue
count the blue count is a more directly
bullish count in which we’re moving in a
larger diagonal
pattern and in this count we already
completed a one two setup with a wave 2
being quite shallow here on Friday the
19th not reliable therefore at the
moment not the preferred scenario but I
will but basically yellow will morph
into blue with a sustained break above
67,8
52 and then the blue third wave should
take us sort of to 71k I think yeah 71
would be ideal here the 1.38 extension
now until we get there it could be blue
or white but the white count um will
become far less likely if we see five
waves up as highlighted there in blue
okay so as long as only three waves up
could also be white which will warn us
that okay we could break down easily and
form one more low so these are the
scenarios to watch first of all I think
we need to be watching for um what
happens here now if we get a break below
the trend line that indicates wave two
in yellow is unfolding this is the clear
support area very clearly defined if the
price doesn’t lose up upside momentum
and Carries On Running s of the area
around 71k would be the next key Target
right range and if we can then form a 4
five pattern that would make white far
less likely okay so at the moment it’s
rather between blue and yellow because
white
is well we we can’t differentiate
between white and blue anyway at the
moment so it’s between yellow and blue
and you always need to think about okay
what’s the key level that distinguishes
between the two and for me that’s 6
7,852 to the upside because above that
level yellow becomes less likely blue
becomes more likely and yeah but I said
they are all bullish you might ask how
if the white count allows for one more
low well it’s quite clear because oops
they are all part of the same overall
bullish
thesis in which we should either have
completed a wave four or we get one more
low in a wave four and after that we
should see not will but should see a
rally to 90k Plus in wave five
but we haven’t clearly or we have at
least no clear evidence that the wave
five to the upside has
started so the overall thesis yeah if
you zoom out and you want to ignore the
entire noise is that we’re going up and
that the 50720 level is the key bullish
support level and there are just several
Pathways obviously that the market could
take I can’t strongly lean towards one
scenario because the micro action is
sort of not very clear but best I can do
is to share with you the yellow and the
blue
counts and um that I’m still leaning
towards yellow you know as long as the
um 78.6
extension hasn’t really broken okay but
they all bullish so yeah so from a
tactical point of view if the price dips
back into the lower support region I
think that could be another um
opportunity to look for an entry point
if it just dips into the upper support
area maybe as well depending on the time
frame you’re trading for anybody who
already entered I think it might be
reasonable to think about profit taking
in the 71k region at least partially but
not too to many profits because price
could still rally into the 90k region
now that’s just very generalized just
what I think is reasonable but you
always have to think about what is right
for you and your portfolio that’s my
update about Bitcoin hope you like the
update if you did please hit the like
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content thanks a lot for watching
bye-bye

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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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