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! 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.

As we are heading into the week. And let’s see. This could, still work out to the upset. Of course, you know, it has actually left our support area, our trend reversal area. So far and so far Bitcoin has been rejected at the 24,008 50 level.

Basically the 78.6 fib level, it briefly broke through, got rejected at the 88.7, but it was really just one week. So for now, I’m watching this level, the key level. Which is the 78.6 Pre trace. Just to see if we can break through and if we can and stay above it. It would indicate that we ha have a really good chance to complete this fifth wave there of the third, and then we should still get another four and five.

What I don’t know is if we get this additional four and five. Yeah. That depends a little bit on how these microwave the, the. , the waves on the smaller time timeframe are counted cuz I can also put the four here. I think we had it like that yesterday, the five here. That would also complete then the wave three here at the top at 25,000.

Two 60. Yeah. And we could get another four down and the five up and so on. But for now I am leaving it like that. The market proves, something different. But just be aware that there are different interpretations of how this can be set, this 3, 4, 5 pattern and , yeah, so far, I mean, still, support area worked out again and, we can still focus on higher.

Just be aware of the, of the possible risks that are highlighted in the previous video that this move down was quite impulsive, so it’s just something to be watching and that if we break below the low here, Of the 17th of February, the $23,300 low, that would then increase the likelihood very strongly that this is just a one two setup to the downside already.

Yeah, so basically a wave one down, a wave two up, which is basically valid and likely also, probably at least as long as we don’t break above the 78.6 F again, if we do that. , the bullets are certainly in control here. Below the 23,000, three 40 level, the bear are in control. So, and then it could come down in the third wave, move on like that.

Always make you aware if something doesn’t quite add up. I mean, there’s nothing wrong with this count here to the upset. Absolutely not. And I said to you, this is still a valid long trade setup and a buy zone here. Of course, for anybody who wants to trade it. A low risk, high reward setup.

That’s basically what you can control, where you enter. We had one here, have one here. And. You can use these if you like to. I can not tell you to do it or not. I can only share with you the, um, the points where I believe based on my analysis of this chart, if by using the Elliot Wave method, where the turning points of the price should be, this one worked out as well, at least at the moment.

And let’s see if over the weekend we can push higher here to get to our 26 27 K target. If we. then, we could have a chance to top really here on the weekender. And just be aware of the critical, uh, levels here, the key support for this fourth wave down there, which is at 23,340. If that breaks and the price sustains below that, we are probably going to retest the levels below.

You know, around the early , you know, sort of the Monday lows around, where were we here, 21,000. 400 and maybe even lower. Yeah. So we’re gonna retest them and then see what we do. But, this is sort of still an active up trend here, of course. And for now, support seems to be holding. Let’s see if we get any more price action tomorrow.

Probably tomorrow. Not too much. Usually not so much on a Saturday, but we’ll see. And then, at the moment the trend is still up and the next path for the bulls would be to break that 24,850 high. Then the B wave high, I’ve got it labeled as B wave at 25,000 to yeah, two 50 pretty much actually. And then we can reach that 26, 27.

Target this is a very important tie which we had here because this is also the same high that where we got rejected in August. So yeah, be open here for further, upside. Just be aware of this key level here because we had this strong impulsive move down, which just is something we need to watch.

You know, you need to be, you need to be sensitive to this. When you see downside pressure in the increase. It is certainly something to watch. There’s no reason to panic, you know, there’s no change to plan, but you need to be aware when downset pressure is increasing. And this wave forward was quite sharp, very honest with you.

Yeah, it was very sharp and the seaway here was very, very strong. So just be aware of that. and other than that, it could also be a triangle, which is unfolding here. Yeah. Similar to the Ethereum. The Ethereum triangle looks a little bit more like a triangle. I mean, this is only if this is a triangle here, an Elliot wave triangle in a wave four, which is actually quite common.

This here would be the A wave we would now have made a B wave could then come down and see d e, and then the wave four would be here. You know, the wave four that’s currently sitting here, and we could still rally up this too early to label the triangle. I’m just pointing out the possibility because so far the move down was in three.

They move up as well in three waves, and if now the move down is also in three and we make a higher low, then it could indicate we are getting a triangle on the weekend. I wouldn’t be surprised. We’ve seen it many times work out this idea of a triangle on the weekend because it’s Saturday. Such a Saturday is usually a day where people don’t trade to actively, and then you often see a triangle form.

Basically is a, a balance of forces. So the market hasn’t really made up its mind yet. Best we can do in this, um, situation is to be aware that we are in a corrective pattern still, and that we haven’t decided yet, the market hasn’t, hasn’t decided, and that we need to be watching for a breakout. But yeah , We’ll know more tomorrow if it’s really a triangle, which is unfolding here.

But overall trend is still up. We are currently hovering above the support area. Primary expectation is still up. Just be aware of the risks, what could happen if we break below the low from yesterday.

New to trading? Try crypto trading bots or copy trading on best crypto exchanges