Bitcoin/ U.S. Dollar (BTCUSD) Elliott Wave Analysis – TradingLounge Daily Chart
BTCUSD Elliott Wave Technical Analysis
Function: Counter-Trend
Mode: Corrective
Structure: Flat
Position: Wave (C)
Next Higher Degree Direction: Wave ((4))
Wave Cancellation Level: N/A
Market Insights:
Bitcoin (BTCUSD) has completed a corrective structure from the peak of Wave III, indicating the likelihood of a Wave IV reversal. This shift suggests the potential formation of Wave V, presenting key trading opportunities for investors looking for new market entry points.
Bitcoin/ U.S. Dollar (BTCUSD) Trading Strategy
BTCUSD: Reversal Point – Is a New Uptrend Beginning?
BTC is showing signs of preparing for Wave V, signaling the possible start of a new bullish trend. Wave IV has moved through a structured flat correction (A)-(B)-(C). The lowest point of Wave IV at 78,402.68 USD serves as a critical reversal zone.
Currently, price action is forming Waves (1) and (2) of Wave V, marking the early stage of an uptrend. The Fibonacci target is projected at 161.8% (126,549.66 USD).
Trading Strategy – Long Position
✅ Buy Opportunity at Key Support (Pullback Entry)
- If BTCUSD remains above 90,897.00 USD and shows upward momentum, traders can consider a long entry to capitalize on Wave V's bullish movement.
Risk Management
- Wave Cancellation Level: 78,402.68 USD
- If BTCUSD falls below this threshold, the bullish outlook may be invalidated, signaling a potential shift in market direction.
Bitcoin/ U.S. Dollar (BTCUSD) Elliott Wave Analysis – TradingLounge H4 Chart
BTCUSD Elliott Wave Technical Analysis
Function: Counter-Trend
Mode: Corrective
Structure: Flat
Position: Wave (C)
Next Higher Degree Direction: Wave ((4))
Wave Cancellation Level: N/A
Market Insights:
Bitcoin (BTCUSD) has completed a corrective phase from Wave III's peak, highlighting signs of a Wave IV reversal. This development strengthens the potential for Wave V, offering traders new market opportunities.
Bitcoin/ U.S. Dollar (BTCUSD) Trading Strategy
BTCUSD: Key Turning Point – Is an Uptrend Beginning?
BTC is aligning for Wave V, which could initiate a strong upward trend. The correction in Wave IV follows a flat pattern (A)-(B)-(C), with the Wave IV bottom at 78,402.68 USD acting as a significant reversal level.
Currently, BTCUSD is shaping Waves (1) and (2) of Wave V, which are early indicators of a bullish rally. The Fibonacci target is set at 161.8% (126,549.66 USD).
Trading Strategy – Long Position
✅ Buy Setup at Support Levels (Pullback Entry)
- If BTCUSD maintains above 90,897.00 USD and continues its uptrend, traders can seek long positions to ride the Wave V breakout.
Risk Management
- Wave Cancellation Level: 78,402.68 USD
- A drop below this level could signal bullish structure failure, necessitating strategy adjustments.
Technical Analyst: Kittiampon Somboonsod
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