HomeContributorsTechnical AnalysisBitcoin (BTCUSD) Next Bullish Leg In Progress

Bitcoin (BTCUSD) Next Bullish Leg In Progress

Short Term Elliott Wave View in Bitcoin (BTCUSD) suggests that cycle from 2.1.2024 low is in progress as an impulse. Up from 2.1.2024 low, wave ((i)) ended at 52998 and dips in wave ((ii)) ended at 50639.8. The crypto currency extended higher in wave ((iii)) towards 64105.7. Internal subdivision of wave ((iii)) unfolded as a 5 waves impulse in lesser degree. Up from wave ((ii)), wave (i) ended at 51958.1 and pullback in wave (ii) ended at 50909.5. The crypto currency extended higher in wave (iii) towards 57456.9 and pullback in wave (iv) ended at 56267.9.

Final leg wave (v) ended at 64105.7 which completed wave ((iii)). Pullback in wave ((iv)) ended at 58498.9. Bitcoin then extends higher again in wave ((v)). Up from wave ((iv)), wave (i) ended at 63676.4 and dips in wave (ii) ended at 60357.6. The crypto extended again in wave i towards 63260.7 and pullback in wave ii ended at 61437.3. Expect wave iii to end soon and the crypto to pullback in wave iv before turning higher again. Near term, as far as pivot at 58498.9 low stays intact, expect pullback to find support in 3, 7, 11 swing for further upside.

Bitcoin (BTCUSD) 60 Minutes Elliott Wave Chart

Bitcoin (BTCUSD) Elliott Wave Video


By loading the video, you agree to YouTube’s privacy policy.
Learn more

Load video

Elliott Wave Forecast
Elliott Wave Forecasthttps://elliottwave-forecast.com
ElliottWave-Forecast has built its reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including Forex majors & crosses, Commodities and a number of Equity Indices from around the World. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Elliott Wave Setup videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

Featured Analysis

Learn Forex Trading