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Elliott Wave Analysis TradingLounge Daily Chart,
Bitcoin/ U.S. Dollar (BTCUSD)

BTCUSD Elliott Wave Technical Analysis

• Function: Counter Trend
• Mode: Corrective
• Structure: Zigzag
• Position: Wave b)
• Direction Next Higher Degrees: Wave ((II)
• Wave Cancel Invalid Level:

Details:

Bitcoin (BTC/USD) is currently in an Elliott Wave Correction pattern. The price has recently completed Wave A and may now be entering Wave B, which represents a short-term rebound before continuing downward toward Wave C.

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

BTC has recently reached a low of $76,703 and is witnessing some buying pressure. If the price rebounds, it may signal the start of Wave B, a temporary upward correction. Should BTCUSD move higher to test the $90,792 resistance level—an important threshold—failure to break above it could indicate a potential reversal. This resistance zone is critical for traders to monitor for short-term profit opportunities. If BTC fails to breach $90,792 and begins declining, the next target for Wave C could be around $73,902, a key support level.

Trading Strategies

Strategy

• Long Strategy
  • For short-term traders (Swing Trade)
    • If the price nears $90,792 and shows a reversal signal, it may present an opportunity to open a short position.

Risk Management:

• If BTC successfully breaks $90,792 and sustains above this level, traders should reconsider the Elliott Wave count for a potential new wave structure.

Elliott Wave Analysis TradingLounge H4 Chart

Bitcoin/ U.S. Dollar (BTCUSD)

BTCUSD Elliott Wave Technical Analysis

• Function: Counter Trend
• Mode: Corrective
• Structure: Zigzag
• Position: Wave b)
• Direction Next Higher Degrees: Wave ((II)
• Wave Cancel Invalid Level:

Details:

Bitcoin (BTC/USD) remains in an Elliott Wave corrective phase. After completing Wave A, the price is expected to move into Wave B, which acts as a short-term recovery before a likely continuation toward Wave C.

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

BTC has established a low at $76,703 and is attracting buying interest. If the price rebounds, it may confirm the start of Wave B, a temporary upward correction. If BTC attempts to test the $90,792 resistance but fails to break through, it could indicate an upcoming price reversal. This zone is essential for traders to observe for potential short-term profit opportunities. If BTC is rejected from $90,792 and begins to decline, the next downside target for Wave C could be around $73,902, a significant support area.

Trading Strategies

Strategy

• Long Strategy
  • For short-term traders (Swing Trade)
    • If the price nears $90,792 and exhibits a reversal signal, it may be a suitable opportunity to initiate a short position.

Risk Management:

• If BTC decisively breaks $90,792 and holds above this level, traders should reconsider the wave structure and update their market analysis.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

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