13Mar

BTC Price Prediction & Crypto Market News Today: Bitcoin Elliott Wave Technical Analysis, Key Support and Expert Trading Strategies

BTCUSD Elliott Wave Analysis – TradingLounge Daily Chart

Bitcoin/U.S. Dollar (BTCUSD) Daily Chart Analysis

BTCUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Zigzag

Position: Wave (b)

Next Higher Degree Direction: Wave ((II))

Wave Invalidation Level: N/A

BTCUSD Market Overview

Bitcoin (BTC/USD) is undergoing an Elliott Wave correction. The price recently completed Wave A and may now enter Wave B, signaling a short-term recovery before a potential continuation downward into Wave C.

Bitcoin/U.S. Dollar (BTCUSD) Trading Strategy

BTCUSD recently hit a low of $76,703, encountering buying interest. If the price rebounds, it may confirm the beginning of Wave B, a temporary upside correction. However, the $90,792 resistance level remains a key zone to watch. If BTCUSD fails to break above this level, it could indicate a potential reversal.

  • Key Resistance: $90,792
  • Key Support: $73,902

If BTCUSD faces rejection at $90,792, Wave C could drive prices toward $73,902, a crucial support area. Traders should monitor this price action for potential short-term trading opportunities.

Trading Strategies – BTCUSD Daily Chart

Short-Term Swing Trade Strategy

✅ Sell Opportunity

  • If BTC approaches $90,792 and shows signs of reversal, traders may consider opening a short position.
  • Risk Management
  • If BTC breaks and sustains above $90,792, traders should reassess the Elliott Wave structure, as a new bullish wave could emerge.

BTCUSD-1D-Cryto-Char...


BTCUSD Elliott Wave Analysis – TradingLounge H4 Chart

Bitcoin/U.S. Dollar (BTCUSD) Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Zigzag

Position: Wave (b)

Next Higher Degree Direction: Wave ((II))

Wave Invalidation Level: N/A

BTCUSD Market Overview

Bitcoin (BTC/USD) remains in a corrective Elliott Wave pattern. After completing Wave A, price action suggests the beginning of Wave B, which serves as a short-term recovery phase before a likely continuation toward Wave C.

Bitcoin/U.S. Dollar (BTCUSD) Trading Strategy

BTCUSD recently established a $76,703 low, attracting buying interest. If price rebounds, it could signal the start of Wave B. However, a crucial test will occur at the $90,792 resistance level. Failure to break above this point may indicate an impending price reversal.

  • Key Resistance: $90,792
  • Key Support: $73,902

If BTCUSD fails to hold above $90,792, sellers may push the price toward $73,902, forming a key support area.

Trading Strategies – BTCUSD H4 Chart

Short-Term Swing Trade Strategy

✅ Sell Opportunity

  • If BTCUSD nears $90,792 and forms a bearish reversal pattern, traders may consider opening a short position.
  • Risk Management
  • If BTCUSD decisively breaks and holds above $90,792, traders should reconsider the Elliott Wave count and adjust their market outlook accordingly.

Technical Analyst: Kittiampon Somboonsod

Source: Visit Tradinglounge.com and learn from the Experts. Join TradingLounge Here 

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Key Takeaways for BTCUSD Traders

  • BTCUSD remains in an Elliott Wave corrective phase, currently forming Wave B.
  • $90,792 is a crucial resistance level; failure to break it may lead to a Wave C decline.
  • Short-term traders should watch for reversal signals at $90,792 for potential short setups.
  • A confirmed break above $90,792 could indicate a shift in Elliott Wave structure.

For more Elliott Wave BTCUSD analysis, stay updated with market trends and price action signals.

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