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 quick intraday
update Bitcoin has started the pullback
um that we wanted to see in this yellow
count as I mentioned to you the yellow
count is the one I’m leaning to unless
we get a sustained break above 6
7,852 that would have shifted
probabilities towards the blue count
blue is still an option but we would
then need a pretty much imminent
turnaround from here I mean the blue
count is just a larger diagonal pattern
I think we will from here now have
difficulties to distinguish between them
if we um if we rally but I’m leaning
towards yellow because it seems like the
more that the clearer Pathway to me uh
what is the yellow count well the yellow
count suggests that a low formed here in
wave four this overall correction which
started middle of March then we had a 1
2 three need to think myself I think it
was here the four and long five in Wave
1 and then here an ABC structure with a
b wve as a triangle these have become
rare these triangles but there is one
and then now the c-wave down when a
triangle breaks I mention that very
often then typically the move down is
quite rapid and we’ve seen that that so
this could be a c-wave pullback now
triangles typically
occur as sort of not the last but second
to last wave in cycle so if that was a
triangle it was a b-wave then makes
sense to consider this now as a c-wave
down and then I’m going to watch now for
a potential reaction to the support Zone
which is defined between
61,200 and 64,0 280 between the 78.6
retracement level and 38.2 retracement
um if it is possible that this is the
blue count which is very similar now cuz
we have here a one two a and the next
rally could be a seawave but I would
argue that it’s difficult to distinguish
now between the two because both um
should react somewhere in this region
now the yellow count ideally drops a
little bit lower for a clearer seawave
but it doesn’t have to you know and even
this ABC structure could turn into a
larger ABC basically what we now need to
be watching for is an impulsive reversal
to the upside in five waves and any five
wave move up now should actually mean
that the third wave to the upside in
yellow has started or in the blue count
the c-wave which again doesn’t really
make a great difference and important is
though to be able to continue to look at
higher prices the price needs to hold
above the 78.6 retracement which is at
61.7k and I’m not telling you we will
have to come down to that level
absolutely not but there is some
structural support we can observe as
well particularly here in this
region which is the 38.2 retracement
there is some structural support as well
together with the FIB support
64,000 what is that 6 64460 roughly and
then the wave two low here which is
around the 50% FIP level at
63370 so that’s sort of what I’m
watching and
looking at the structure it it I mean at
the moment there’s nothing um there’s
nothing that tells me something more
bearish would be going
on
so one
second okay so that’s sort of what we’re
tracking here and overall it’s just
important that this micro support area
is holding so if we can see a reaction
to one of these Fibonacci levels then
the first key level that needs to be
broken to the upside which would
indicate to us that we have put a local
low in place first break that is needed
to happen to indicate that would be a
break above the b-wave high which is the
end of the triangle at
6675 pretty much so that’s the key level
that needs to be broken and then we can
say okay probably this decline is over
and we are now moving up in either wave
C in blue which should take us to round
about 712k or even the third wave here
which might actually push us a little
bit higher because if I measure that
wave one let’s assume we come down maybe
to the 50% FIP level then the third wave
Target is the
1 382 well it’s around 73 74 actually
74k so yellow is more
bullish that could actually take us all
the way to 75 to 80k eventually so
that’s sort of what I’m watching um
basically not much more to add so
correction is unfolding could as always
you know this is the 15- minute chart is
always uh quite messy but if this was
the end of the triangle which we can
label a b c d e I’ll highlight that in
yellow then obviously for the c-wave
down we’re looking for five waves and
yeah I mean it could be nearly done so 1
2 3 4 maybe one more low but then again
what we don’t know yet is if it’s going
to turn into a larger ABC structure
because this is quite shallow even if it
just reaches the 38.2 FIP but absolutely
valid okay so I can actually take that
off and therefore as I said what we need
to be watching for is an impulsive
reversal above
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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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