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Bitcoin (BTCUSD) – Elliott Wave Technical Analysis & Trading Strategy

BTCUSD Elliott Wave Technical Analysis

• Function: Follow Trend
• Mode: Motive
• Structure: Impulse
• Position: Wave 3
• Invalidation Level: 110,588

Market Overview – Daily Chart
Bitcoin (BTCUSD) is currently showing continued upward movement through an accelerating wave pattern. At present, price action is in a consolidation phase, specifically wave iv of sub-wave iii, acting as a short-term correction. Once this phase completes, we expect upward movement toward wave v of 3, followed by the final wave (5) in the larger degree trend structure (1).

Trading Strategy – Daily Chart

• ✅ For Short-Term Swing Traders:
• • Wait for wave iv to consolidate near Fibonacci zones (0.236–0.382).
  • If a bullish reversal or a small impulse pattern is observed → Consider entering a long position to ride wave v.
• 🟥 Wave Count Invalidation:
• • If BTCUSD drops below 110,588, the current Elliott Wave structure will be considered invalid.
     

Bitcoin (BTCUSD) – Elliott Wave Technical Analysis & Trading Strategy (H4 Chart)

• Function: Follow Trend
• Mode: Motive
• Structure: Impulse
• Position: Wave 3
• Invalidation Level: 110,588

Market Overview – H4 Chart
BTCUSD shows the same structure on the 4-hour chart, confirming the consolidation phase of wave iv within sub-wave iii. This is a brief sideways move before Bitcoin resumes its upward path with wave v, continuing the impulse trend toward higher degrees.

Trading Strategy – H4 Chart

• ✅ Short-Term Opportunity (Swing Trade):
• • Monitor consolidation zones near 0.236–0.382 Fibonacci levels.
  • Upon detecting a bullish reversal or minor impulse → go long to capture wave v.
• 🟥 Invalidation Risk:
• • A decline under 110,588 will invalidate the current wave structure, signaling a change in the trend.
     

Analyst: Kittiampon Somboonsod, CEWA
Source: TradingLounge.com

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