BTCUSD Elliott Wave Analysis – Daily & H4 Charts | TradingLounge
Bitcoin (BTCUSD) Elliott Wave Technical Analysis – Daily Chart
Function: Counter Trend
Mode: Corrective
Structure: Zigzag
Position: Wave (a)
Next Higher Degree Direction: Wave ((II))
Wave Cancellation Level: N/A
Analysis Overview
Bitcoin (BTCUSD) may be entering a significant correction phase based on the Elliott Wave pattern. Key support levels to watch are $73,902 and $51,160. A potential retracement could provide trading opportunities for long-term investors.
BTCUSD Trading Strategy – Daily Chart
BTCUSD has completed a 5-wave downward impulse structure and is currently retesting the $73,902.30 support level. The recent low of $76,703.20 suggests increasing buying interest, signaling a potential reversal.
BTCUSD is expected to enter Wave (b)—an upward correction phase that could drive prices toward the $90,792.77 resistance level. A breakout above this resistance could confirm a bullish trend continuation.
Trading Strategy – Long Position
✅ Entry Strategy: Buy upon a confirmed price reversal at the support level (Pullback Entry).
✅ Entry Conditions: Wait for a strong reversal signal at key support.
✅ Risk Management: If BTCUSD surpasses $109,186.89, the bearish wave count becomes invalid.
Bitcoin (BTCUSD) Elliott Wave Technical Analysis – H4 Chart
Function: Counter Trend
Mode: Corrective
Structure: Zigzag
Position: Wave (a)
Next Higher Degree Direction: Wave ((II))
Wave Cancellation Level: N/A
Analysis Overview
Bitcoin (BTCUSD) is undergoing a potential Elliott Wave correction. Key support levels remain at $73,902 and $51,160, indicating a possible bounce or further downside movement.
BTCUSD Trading Strategy – H4 Chart
BTCUSD has completed a 5-wave downward structure and is currently testing a crucial support zone at $73,902.30. The recent low of $76,703.20 suggests a return of buying pressure in the market.
BTCUSD is likely to enter Wave (b)—an upward retracement, with resistance expected at $90,792.77. A successful breakout above this level could validate a new bullish trend.
Trading Strategy – Long Position
✅ Entry Strategy: Buy when BTCUSD reaches the support level (Pullback Entry).
✅ Entry Conditions: Enter after a confirmed reversal signal at the support zone.
✅ Risk Management: If BTCUSD moves above $109,186.89, the bearish wave count is invalid.
Technical Analyst: Kittiampon Somboonsod
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Conclusion
Bitcoin's Elliott Wave structure suggests a corrective phase, with potential upside in Wave (b). Traders should monitor support at $73,902 and resistance at $90,792.77. A breakout above the resistance level could confirm a bullish reversal, while a breach below support could extend the correction.