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!

Foreign Hello and welcome to another update Video about Bitcoin Bitcoin yeah it's Moving higher it's not doing anything Unexpected at least not yet but I think It will do And that's why we want to prepare that's Why we want to be aware about the next Movements so Yesterday only we talked about that with Every new low A bear Market low could be in Do I expect it no not yet however We might see a stronger push to the Upside here in an alternative Wave 4 Which is this one here yeah that this One never finished here but we'll finish Here That at the moment is a very likely Option we talked about that in quite Some detail in the previous video and From a higher level point of view or the Higher wave degrees there are a few Possibilities how this can actually play Out the first possibility is on the Chart here Where we say we are moving down in an Ending diagonal in a wave 5 and that we Have just an ABC in this ending diagonal Which means that all the five waves from The Bitcoin top need to be counted as Three waves but that isn't so much Important here in the short term Um but it would mean that this was a

Wave one where we came down on the Well that was middle of September to Around 21k we then moved up in a wave 2 Came down in a three Um we would now most likely move up in a Wave four and then come down in a five Into the Region 14 to 14 and a half k So that is one option The other one is that I see this entire Move a little bit differently Um that I say and it doesn't really make A great difference I just see the entire Move then as a five wave move instead of A um an ABC But here we would say wave one Wave 2 Wave 3 Wave 4 wave five a very Similar count just a different lower Level assumption and well or different Higher level assumption and a different Lower level count but not really Has doesn't really have any major impact On targets So Looking at this now Um primary expectation or primary Expectation short term could still be That we are going to find resistance Here either at 16.5 K that's the 61.8 Percent FIB or at the 78.6 Um FIB level at 16.8 K so 16.5 or 16.8 K Find resistancy and come down in a c Wave of three This however needs to be challenged now So please be

Um be aware that this might get Invalidated easily Um the Assumption so this is resistance Area of course you can turn around here But Be aware that This could push higher Um Well in fact I have to I think I can't Leave it as primary expectation this is Still resistance area Um but I think we are going to see something Different I think we're going to see This being a wave 4 here So talked about that in the previous Video I have difficulties to count this Still as an ABC in a Wave 3 now because Lower time frame we can very I mean Everybody can see that we can very Clearly see five waves up a wave four Or three wave B can't be a five wave Move Okay so and we've already reached sort Of a level where we could be exhausted With this wave Five of well it's not b Um So I would expect at some point now a Retracement Down Sorry and that would be a decision point That will be a decision Point Um because If we break down and lose the previous

Swing low then we are coming down in the C wave but I don't believe it because We've got five waves up but if we come Down find support at the lower high then Move higher my first coil would be that The Wave 4 is actually sitting over here And that the entire move and I mentioned That yesterday Was a wave a A wave B and we're now moving up in C That would be a five wave structure Yeah so what I'm actually going to do I Think I'm going to Yeah let me Right let me take Those out here And let me take the ABC out as well Because this has to become Primary now It's just because we have five waves Upright and that just makes it more Likely that we're pushing higher in Either This a B c or even a bullish pattern why Bullish because we made a new low and as I always explain any new low with Bitcoin could now lead to a bullish Breakout the reason is that obviously When we make new lows we can't say the Low is in but if we see five waves up Off a low Considering the context we can we can Look at it but it's not the primary

Expectation Prime expectation would be a Wave 4 up due to the entire chart Context and then come down Fun as always with Bitcoin and if we are Already in a c wave to the upside you Would expect that this year is a wave One Will come down and two move up into Three come down to four move up in a Five Um So yeah like that let me change to wave Degree And so yeah I hope you understand I Can't leave the other one we can still Sort of Keep it on the radar but obviously with Five up I can't count that as a wave B Anymore okay Um So it's still expected to come down here Shortly Into wave two and in terms of holding Support We need to hold ideally so definitely we Need to hold the low here at fifteen Thousand four ninety but ideally we want To hold fifteen thousand seven twenty Which is the um Which is the 78.6 percent flip level so Should we be finished here come down This is the area where I would expect it To ideally get into between 16 K and 15.7 K before we then move higher

In the third wave Bear in mind this is an Impulse yes but It would be an Impulse within a Correction an Impulse within a wave C so Here I don't consider primarily a Bullish breakout but we can focus on Higher given the five waves up But before it happens further I would Expect a move down in wave 2. so this is The most likely scenario for me now five Waves up We've seen them here in white we would Expect this be is a wave one this can Still push a bit higher Um but then come should come down and That we can always look only at the Ideal wave patterns here and then we Should move up in a wave three now bear In mind I don't consider that primarily A bullish scenario this is only a Correction or an Impulse within a Correction Um and the target for the C wave First Target would be 18K no but it Could even stretch out all the way to 19.6 K that would be a bit of an extreme Though don't necessarily think we do it But it's possible because the oil moved Down Is considered a diagonal pattern Um we can't easily use flip levels too Much because they are getting unreliable In such a diagonal pattern but yeah Hopefully that makes sense

Um We have seen a bullish Divergence on a Few time frames in one of the last Videos as well Um and we were oversold so let's see What Bitcoin does out of it but I think It's time to shift scenarios which makes Sense before anything happens Um and yeah that should be my um that is My latest view about Bitcoin of course I Keep you updated should things change Here hope you like the update if you did Please hit the like button leave a Comment and subscribe and if you really Like the content then please check out The channel membership thanks a lot for Watching bye Thank you

Leave a Reply

Your email address will not be published. Required fields are marked *