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 pretty pretty
boring at the moment not much going on
so obviously we’re still um tracking
here the movements to the upside okay so
just for context it’s important to I
think realize there is scenario on this
chart which allows that a low was
already in this entire move that started
early in March middle of March is
considered a wave four correction and
this wave four correction could have
finished here on the 19th of April I’m
just saying that for new viewers so um
that’s one scenario that’s bullish and
there’s one scenario in which we can
still get one more low deeper lower into
this main support region and that’s also
highly likely still because the
movements from the low from the 19th of
April they have been corrective that
means from an elite wave point of view
they were overlapping they were not
clearly directly bullish the main reason
why I say the low could be in it was
already here on Friday I highlighted
that is because we have a nice bottoming
structure that’s one thing but also
because we have a potential five wve
Advance five waves but only in a
diagonal pattern so we can’t really
fully trust these and there is a
scenario like a complex wxy pattern in
which we could easily see one more low
and both counts are bullish however
because in both counts upside Trend
continuation is expected either more
directly from this region or even if we
break through micro support then from
this region so that means pullbacks
could be
opportunities either way okay and I will
only have to change my perspective on
this chart you know um below
50,7 that is below the main support
region on the chart below this um 50%
retracement so that’s these are the
important markers at the moment we
obviously investigating if the low is
really in I’m treating it as such until
we break support doesn’t mean it is the
case necessarily okay we have to
consider both scenarios both are bullish
I think therefore the answer is very
clear doesn’t really matter so it’s more
like do you have a plan for both okay do
you have a plan for both if you want to
if this affects you at all you know if
affects you a lot of people won’t be
affected because they don’t care about
the micro patterns um but just be aware
we have risk here we have risk that the
price could drop maybe to 57k 56k in the
white
count or we have risk here in the very
short term that the price could dip into
this micro support area which is
relevant for the scenario in which we
could have already bottomed yeah I will
by the way take the micro out here I
don’t just a bit annoying okay um cuz we
don’t need it you know it’s just in a
way so looking at the shter time frame
then the idea and the communication over
the last few days has been that okay we
have the yellow scenario here which
might have topped on the 22nd of
April Wave 1 which is a five-wave move
only as a diagonal now we are watching
if Wave 2 is unfolding the support area
hasn’t changed since the yesterday
because we haven’t made a new high the
price has not managed to form a new high
I could just maybe slightly adjust it
and support is between
61.2k and 64.3k pretty much that means
if we now get a pull back and we break
below those trend lines here which are
visible on the
chart we break below those trend lines
they’re not so relevant but there a
trend channel in which the price has
been moving yeah so if we break below
these and then we have a possible
triangle here as
well so if we see a break below those
trend lines it could indicate that this
wave two pullback has indeed started
there’s a wave count that would support
this because we can say if the wave one
inde top there then this could be an A
wve A B C D E could be a b-wave triangle
might get another lower high and then we
could come down in wave C so this is one
scenario that’s worth
observing and another scenario allows
for direct continuation to the upside
which is in the blue count in which we
already completed a one two setup here
with a wave two on the 19th of April
just a different way of counting this
but the move up is not impulsive so it
would also be a diagonal diagonals
always leave a lot of room for
interpretation and I wish I could tell
you which one it is I’m still leaning
towards yellow as long as we don’t break
above that 78.6 extension which is
pretty much um in line with previous
updates yeah very much consistent with
previous updates I highlighted to you
that that level needs to break for me to
clearly favor the blue count but they
are both bullish so in the blue count we
probably completed an a-wave on Monday
b-wave pullback but that might also
unfold as a triangle and then a c-wave
rally from here is possible and to give
us some evidence for that we first need
a break above the um
67.3k and then a follow through above
the 78.6 extension at
67.8k and then it can take us to 712k
in the blue count but if we see a break
to the downside especially a break below
what I’ve labeled as yellow wave a 65,0
880 it would suggest that the seawave to
the downside is taking us into the
orange support region all that’s showing
us is reward and risk what’s the reward
to the upside round about 71 and a2k
right what’s the risk to the downside
well technically 61.2k so it’s very
balanced at the moment I don’t think
there’s a trade here because of that but
if we dip into the orange support region
yeah there might be the opportunity for
some of you who are looking for
short-term entries to maybe look for an
entry here okay depending on how the
decline is structured though but this
would be a support area to watch and if
we then can see the price stabilize in
this support area and then take off yeah
that would be first confirmation or
additional confirmation for the yellow
count that’s my update about um Bitcoin
hope you like the update if you did
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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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