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 we’re still
caught in this ongoing correction what
can I say um the overall situation
hasn’t changed Bitcoin shows a little
bit of bit of a buy reaction at the
moment to the orange micro support area
that we discussed in previous videos
over the last few days it’s between
61,200 and 64,0 to 80 obviously we’ve
reached that support zone now yesterday
actually we reached that micro support
zone so we can take a look at it um but
unfortunately probabilities are still
not very clear I think the best the
analysis can do at the moment is first
of all to tell us that looking at the
bigger picture zooming out the overall
bullish thesis is of course still alive
there is absolutely no change and it’s
worth knowing about the relevant pivots
there are two wave counts that apply in
in reality there are more options more
potentials of course that could come
into play here but I think it’s worth
knowing that we always try to focus only
on the most probable scenarios at a time
and the most probable scenarios are
listed are shown here on the chart we
have in the yellow scenario an A B C
structure and the CWA is a five wve
Decline and could have finished here on
Friday the 19th we obviously looking
here at this one two setup right now to
keep this alive which would then confirm
further that indeed we’ve bottomed on
the 19th we need to hold the micro
support area between 61,200 and 64,0 280
I’m going to zoom in in a minute in the
white count another low is possible here
this is the short-term bearish scenario
we have have a WX y structure and then
this is an A B C pattern this also
illustrates very well why this would
still probably leave us somewhere in
this um support Zone here okay so
probably not even going below
55.4k so but this illustrates very well
why we do not only look for a five-wave
move to the upside but also for a
three-wave move down to to yeah confirm
that a low has been established because
as you can see here this here could
simply be an A B C structure in the
white scenario in this B wve so the
c-wave up which I haven’t labeled here
separately but it’s five wve move so
just five waves up don’t really give us
what we need to know we need to know
more so it’s five up three down
depending on the context sometimes it’s
clearer sometimes not here because the
move move up was also not clearly a
five-wave move and because it allows for
this perspective of a potential flat
structure there as per the wide count I
cannot rule out another low and there is
however a clear level that distinguishes
between the two scenarios so for me it’s
the $61,200 level if we get a sustained
break below that level which is the
lower boundary line of the micro support
area here that would clearly shift
probabilities towards the white scenario
um until then we can look for yellow to
work out yeah we can watch if the yellow
count does work out and we can give the
Bulls the benefit of the doubt okay so
looking at this yeah yellow count then
if we go to if we zoom in a bit further
then we can see that we have seen
potential ABC structure so I can I can
call that move down a three-wave move if
the b-wave is a triangle
um but then we should have really
bottomed right so then we should have
really bottomed and if we react to this
area okay you know you can never rule
out another low but sort of in this
region I would really like to see a
reaction now I mean now it’s done what
we wanted it to do right we’ve had a
five-wave rally potential three-wave
pullback into the support region into
the middle yeah and if we now see a
reaction here and there’s absolutely no
reaction yet then a third wave should
take take us to round about 75k so we
can calculate that based on the data we
have we take the length of that wave 1
go to the current low of the Wave 2 and
what we want to see normally in the
third wave is the 1. 236 extension
reached as a bare minimum better the
1.38 extension and that’s here at around
74 and
a2k however because of the messy
structures here and the overall context
it is possible that if we only see a
corrective rally a third wave to the
downside follows in the white count so
it’s basically we’ve seen five waves up
we’ve now moved down into the support
area ideally we see a reaction here in
the yellow and the white count we’ll see
if we actually see a reaction ideally
then if the rally is corrective there is
another area of Interest critical
juncture here pivot area between 65k and
66.4k if the price gets a rejection from
this area that would indicate the third
wave down might be
unfolding however if the price can in an
impulsive way especially break above
66,500 that would clearly indicate
yellow is in control so we need to see
now if we can react to this pivot rally
to the next thetical area here which
will provide a critical juncture for the
price and only a break above that area
would make white
less likely the problem is due to the
triangle pattern here I can also call
that possibly a 1 12 one2 to the
downside and then it gives me five waves
down and therefore I can also call that
a wave one so that’s sort of where we’re
now moving from support to resistance
and we really need a sustained break of
one of them in order to Clearly say
where we are at the moment we’re just
sort of in no man’s land overall it’s
just ranging I mean if you look at this
we’ve really just been ranging here for
a while now and we need that sustained
Break about resistance and then also
that will already shift probabilities
towards yellow but the white count as it
is will only be invalidated with a break
above that 23rd of April high at around
67,341
for additional 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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