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 hello and welcome to another
update video about Bitcoin let’s start
zoomed out let’s start on the 1 hour
time frame just want to make sure that
everybody is on the same page everybody
understands the two scenarios We are
following here on the 1H hour ch
there is the yellow scenario which I
definitely give the benefit of the doubt
yeah we want to see if the Bulls can
make it in the yellow count the Wave 4
correction already finished here on the
19th of April we have seen an a-wave to
the downside we have seen a b-wave rally
and the c-wave to the downside and the
c-wave is a five wve pattern and this
completed a fourth wve correction okay
and this is possible especially given
that we have seen a potential five wve
Advance which peaked here on Monday so
that’s always what we want to see we
want to see a completed correction then
we’re watching for the first five wve
move up which is I have to say ugly
however but so far not doing anything
that is in any way surprising so Bitcoin
has dipped today but also that was not
surprising we’ve only reached the
support area today the micro support
area so for the yellow count this is
doing what it’s supposed to be doing as
a one two structure one two setup and
then a third wave rally could start from
there however as I said in previous
videos we need to see five waves up
happened we need to see three waves down
happened but we also need to see the
price stabilize in this support region
and then show a reaction haven’t seen
that yet and that would be good
confirmation further confirmation that
we have really bottomed here in the
fourth wave and that this is indeed a
one two setup and the third wave would
ready next to 75k
roughly and then there is the white
scenario that allows for another low w x
y and then this is an A B C so we can
definitely get another low however we
need
basically another lower high and another
lower low for that because at the moment
the decline that happened from the 22nd
of April is a three-wave move if it
turns into a larger five-wave move well
then we have further evidence that this
is the white count okay looking at the
15minute chart that gives us the
detail we’ve seen obviously I focus on
the yellow count only at the moment this
is sort of um because the yellow yellow
count is the bullish
pathway um blue is
possible but is about to be invalidated
so maybe I’ll take that off now I’ll
take the blue off makes it
simpler so we focus on yellow and here
we have this five wve move up in Wave 1
wave two pullback and you see at the
moment this is a three-wave move down
I’ve got an A wve I’ve got a b wve and a
c-wave down here this is a bit ambiguous
I’m counting that as an Elliot wave
triangle ABCDE e and wave B but maybe
it’s just a 1 12 one2 or something you
know it’s there are different options
but my take is a-wave b-wave triangle
c-wave down after a triangle breaks we
normally see quite a rapid decline we’ve
seen that and we can count a possible
five wve move down complete now I just
said three waves didn’t I yes the entire
move from the Monday high is three waves
but the move down from today’s high is
five
waves so that could be a c-wave but it’s
overall a corrective move down but if
it’s
forming this then we have wave one wave
two wave three somewhere here four five
yeah but it would need to break support
as well so below
61,200 as long as we’re holding the
support P area I’m looking for higher
prices and consider this a three-wave
decline for me it makes more sense as an
ABC structure but then you have a lot of
distortions on smaller time frames
anyway but why does it make more sense
as ABC because from a bearish point of
view this would be like a one two but
I’m not sure what this is then you know
CU only a b wve can really be a triangle
not a wave two so therefore I’m leaning
towards the more um bullish pathway at
the moment at least I give the yellow
count the benefit of the D it hasn’t
stopped dropping however let’s see how
it um what what it’s doing around the
the daily candle close this could still
be a fifth wave in the making here we
are far away from breaking support at
the moment but yeah pay attention to
61,2 eight okay so this could be a
completed count it’s just that what
happens down here is a bit ambiguous
this actually looks more like still as
part of maybe wave three four maybe one
more low
but that is also as I said is a bit
ambiguous here so if there might be
another one two setup or so bit
difficult to say yeah so pay attention
to the next support level
63370
62469 and 61,2 7 somewhere there I’d
like to see a reaction to the
upside before breaking below support and
if support breaks that would increase
the likelihood that the white count is
unfolding we might have topped then
already in wave B that’s my update about
um Bitcoin hope you like the update if
you did please hit the like button leave
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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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