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Elliott Forecast

Daud Bhatti

Bitcoin (BTCUSD) At Possible Support Area

April 21, 2023 By

Bitcoin cycle from 3.10.2023 low has ended with wave 1 at 31035. Internal subdivision of wave 1 unfolded as a 5 waves impulse. Wave ((i)) ended at 20874 and pullback in wave ((ii)) ended at 19893. The crypto-currency extends higher in wave ((iii)) towards 29380 and pullback in wave ((iv)) ended at 26541. Final leg wave ((v)) ended at 31035 which completed wave 1 in higher degree. Pullback in wave 2 is in progress to correct cycle from 3.10.2023 low, but it’s near complete.

Internal subdivision of wave 2 is unfolding as a . Down from wave 1, wave (i) ended at 30001 and wave (ii) ended at 30620. Wave (iii) ended at 29247 and wave (iv) ended at 29590. Final leg wave (v) ended at 29122 which completed wave ((a)). Rally in wave ((b)) ended at 30483. Bitcoin then extended lower in wave ((c)) and it has already reached the extreme area from 04.14.2023 high at 27390 – 28574. This area is measured from 100% – 161.8% Fibonacci extension of wave ((a)).Near term, while above 27390 (1.618 Fibonacci extension level), expect the crypto currency to extend higher or rally in 3 waves at least.

BTCUSD 60 Minute Elliott Wave Chart

BTCUSD Elliott Wave Video

Source:-forecast.com/news/bitcoin-btcusd-possible-support-area/

#trading #elliottwave #BTCUSD

21/04/2023 1 EN

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Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients. ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

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Daud Bhatti

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