Unsplash

Bitcoin BTC/USD Summary:

The 61.8% retracement level is around the 24,000, that said the 25,000 is the larger price point (Medium Level) and we can expect the price to swing above and below this level and could take about 4 or 5 days to bottom into Wave ii) low Elliott Wave 4) of iii of (c) of ii).

Strategies:

Once Wave (c) of ii) is completed, we simply need to wait and observe the first impulse wave upwards as part of the next long trade setup using the abc at a level as the trade setup.

Video Length: 00:10:58

More By This Author:

Tech Stocks - Elliott Wave Technical Analysis
Elliott Wave Technical Analysis: Ripple, June 5
Elliott Wave Technical Analysis: Major US Indices Plus FTSE, DAX, ASX