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 C

Next Higher Degree Direction: Wave ((II))

Wave Cancel Invalid Level: (not specified)

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

Although Bitcoin has shown a recovery over the past week, and some believe the upward trend may resume, Elliott Wave analysis still identifies the movement as corrective, within an a–b–c structure. We are approaching a downward move in wave c, which may result in a more significant drop than currently anticipated.

Wave (V) has concluded → The market is entering an A-B-C corrective pattern.

Wave b is developing into a Double Zigzag pattern (W)-(X)-(Y). The price is nearing the end of wave b and is about to start wave c.

Trading Strategies

Strategy

For Short-Term Traders (Swing Trade):

Monitor for reversal signals around the $88K–91K zone.

On spotting a reversal or divergence → Initiate a short position.

Target Range: $68,000 → $62,000

Risk Management:

If Bitcoin breaks above $112K clearly → This would invalidate the corrective structure and suggest a bullish scenario.

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 C

Next Higher Degree Direction: Wave ((II))

Wave Cancel Invalid Level: (not specified)

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

Despite recent upward price action in Bitcoin, Elliott Wave indicators suggest that the market remains in a corrective a–b–c structure. We are moving towards wave c, which could push the price downward beyond common expectations.

Wave (V) is complete → We are in an A-B-C corrective phase.

Wave b is shaping into a Double Zigzag (W)-(X)-(Y), with the price nearing the end of wave b and preparing for wave c.

Trading Strategies

Strategy For Short-Term Traders (Swing Trade):

Look for reversal signs within the $88K–91K range.

Once a reversal or divergence is confirmed → Consider shorting.

Target Zone: $68,000 → $62,000

Risk Management:

A definitive break above $112K would negate the corrective setup and indicate a bullish reversal.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

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