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 Video about Bitcoin just made the Ethereum video a very similar wave count Also here four Bitcoin the charts Followed my expectation in the last Video and we talked about the upcoming B Wave here in yellow and um that this is Most likely not a triangle anymore so we Should see a higher wave C which then Also happened we had a bit of a fake out Rally yesterday yeah not entirely Unexpected and then the expected Reaction to the downside because as Indicated in the last video I would Expect Bitcoin to reach this support Area and looking at the candle here Looks like we're also going to get there We don't really have a massive bullet Reaction to what we're doing here so it Rather looks like further continuation To the downside into the area between 16.3 K and 16.7 k Bitcoin is taking care of itself um Because we had three scenarios here Yesterday with the direct breakout Scenario being the least likely because We had five waves down you know remember That from the last video Um and that is now basically Invalidated yeah the direct breakouts Because obviously we dropped below the Previous swing low it was still possible From here to move up in an impulsive

Wave but as I said this move up was just Corrective so it was getting very very Unlikely and we were pretty much Focusing on further downside anyway Um but the thing is now we are getting Into a decision area the next one Between 16.3 K and 16.7 K from here it is still possible For Bitcoin to Rally with a fairly Decent probability in a third wave to The upside then there should be a fourth Wave and a fifth wave of this higher Degree Wave 3 there Then there should be a wave four and Another wave five this would be the Scenario that Bitcoin would most likely Follow If Bitcoin finds support in the green Area because then I see this entire move Here of the low Um from the 28th of November as a wave One and a following Wave 2 which would Result in two away three that When trading I would like to be part of Right because the Wave 3 is normally the Most bullish Wave structure so this is primarily also The structure that I follow until it Gets invalidated it would get Invalidated or at least it would come Close to invalidation below 16.3 K the 78.6 retrace so below that level it will Get very likely that this move to the Upside is not going to happen anymore

Because then we're dropping and I've got The fips on the chart here we're Dropping below the 78.6 percent free Trace and usually if a wave 2 gets below That level it's just very unlikely that It's still going to work out it is what It is from all the charts I'm I'm Charting and you know that when you Watch the videos any coin that drops Below that level It really has a hard time to recover They can do it But it is rare and especially if we then Drop below the 88.7 flip level as well That's at sixteen thousand one sixty It's most likely not going to work out And then we're going to break and then We can already come down Into the lower low area that we're Waiting for anyway which is between 14 And 14 and a half k Yeah so because if I go back to the four Hour chart and you will remember that From previous videos We are still generally waiting for one More low for Bitcoin ideally after a Little bit more upside but generally in My opinion The bear Market isn't over yet now Bitcoin hasn't really done what it needs To do to prove to us that the bear Market is over so I'm still looking for One more low and again ideally in the Region 14 to 14 and a half K can it go

Lower yes it could go lower but we need To see first how does the price actually React to this support area between 14 And 14 and a half K depending on how Long this takes it could really be that We're doing all of this in this Descending wedge ending diagonal pattern Because you know if we really if maybe We won't see that new low until January February next year and then we would Come into this region here 14 and a half K we'll see But um timing is always very difficult To forecast yeah but the point is we're On our way into the support area would Be ideal to get there from here anywhere I would expect Um to find support at one of these key Support levels that I mentioned here 16.7 K 16 550 and 16.3 K if we drop Below it we have a more substantial top In place And would sell off directly most likely Into the region between 14 and 14 and a Half K should be Crystal Clear Um but we can also specify the target a Little bit closer for the C wave here we Can do that by taking the length of the A wave we go to the high of the B wave And then we get the first Target that's The one to one ratio 16.6 k It's just a different way of calculating Target

And the stretch Target would be pretty Much 16.3 k Um that's the 1.618 extension so Anywhere in the green box with a focus On 16.6 K I would say Okay so that's my update about Bitcoin I 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

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