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 yeah it was such a
boring day on the Bitcoin chart really
nothing happened we are below the last
swing High we are above the last swing
low and that takes us not any further
really you know and uh Bitcoin is sort
of just in a consolidation phase the
move currently looks really really
corrective this move to the upside which
started on the 19th of April a lot of
overlapping price action here but we are
still moving in the ascending price
Channel these channels often tend to
break to the downside eventually the
support area hasn’t changed we’re going
to zoom in in a minute first of all
let’s take a look at the two two wave
counts that I’m following they are both
I mean fairly neutral really about um do
we get another dip into the support area
or not it is overall my view that we
continue with the bullish Market from um
well either directly from here okay or
after another dip in the support area so
it’s overall bullish the main support
area on the daily time frame the larger
time frame is this one here and the key
support is
50725 the overall bullish assumtion on
this chart doesn’t need to be revised no
changes are needed as long as we’re
holding that level but we have to give
the price that space in case it needs it
I don’t think it needs the entire space
I don’t think Bitcoin needs the entire
space all the way down to
50725 I potentially could imagine a a
move down to 55k but it’s not a
prediction it’s just that that’s still a
potential we haven’t even we haven’t
broken out we haven’t even come close to
the last resistance levels up here like
the April high or the March high so we
haven’t really reached those okay but we
are still moving in this range and the
movement to the upside as I said from
the 19th of April low here from that
Friday low that’s just corrective so
there are two counts really that I
follow mainly one is the short-term
bullish one one is the short-term
bearish one and in the short-term
bearish one which is the white scenario
we’re dealing with a
WX y structure and the Y wave consists
of an A B C structure and this here
currently is a b-wave rally and we could
easily come down in a c-wave next that’s
a simil account that I also follow in
the ethereum chart but I will not be
able to confirm that this seawave to the
downside has or is unfolding until we
break below micro support the micro
support area I’m following I’m watching
is defined between
61,62 120 between the 78.6 retracement
and the 38.2 retracement levels um as
highlighted by the orange micro support
Zone on the chart and this is also
relevant to the shortterm for the
short-term bullish count that takes us
to that short-term bullish perspective
in which we have an A B C structure and
the c-wave could have completed here
on the 19th of April so it means the low
could be
in but it’s not 100% clear which I could
give you really a very clear view but a
c not on this time frame overall yes you
know all overall I did tell you already
we are bullish um Bitcoins let’s say
bull market Target points still towards
around about
$125,000 and yeah bullish it’s just that
in the very short term because the
patterns are a little bit ambiguous I
can’t clearly confirm that we are
already
that we’ve already bottomed okay that’s
too early so the analysis however can
tell us the relevant parameters that now
need to be respected to have a bullish
perspective a directly bullish
perspective and the micro support area
already mentioned it if we dip into this
micro support area it would be um a test
for the yellow count the yellow count is
the short-term bullish one in which we
completed five waves up in a wave one
maybe one more high but ideally this is
has topped in wave one and then we get
um sort of an ABC structure to the
downside in wave two if we see a break
above 67,8 52 it would shift
probabilities towards shortterm
something more bullish then I will stop
watching for a wave 2 because that would
then imply that we are already in the
blue third wave so basically it’s just a
different way of counting this what I’ve
labeled here as Wave 1 from Monday
Monday High actually topped already here
on
Friday okay and we’re now already in the
third wave that could take us to
712k then we get a four and a
five so this is sort of they are both
bullish potentials one just a little bit
more bullish and then don’t forget that
as soon as we break support we could
also be still in the white count but
basically I think the best way to
approach this is if there is a dip first
to pay attention to that upper support
region
if there’s a reaction it could be that
the third wave rally to the upset is
unfolding as per the yellow count um and
if we see a dip below that micro support
area then it’s likely the white count
it’s very very simple there is a very
clear level that distinguishes between
the two and that’s the 78.6 retracement
at
61,800 but in both counts we’re bullish
which means that from a technical point
of view I think dips could be
opportunities and if we rally much
higher
then obviously profit taking might make
sense especially if the move to the
upset remains corrective as it is right
now profit taking I think is quite
important but only partial profit taking
because the next rally should take us to
90k plus and you don’t want to be
sidelined I think that’s just sort of
some generally what’s reasonable I think
yeah unfortunately not much more to add
I think if we see a break below the
trend line as already said in the
previous videos earlier today a break
below the trend line could indicate the
start of the wave two until then
yeah no no change and just consolidation
basically unfortunately not nothing more
exciting happened so I can’t can’t
really I’ve run out of things things to
say unfortunately so we’ll see maybe
tomorrow we get a bit more action so
hope you like the update if you did
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watching bye-bye for

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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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