Elliott Wave Analysis
Current Position: BTCUSD is likely completing Wave 4 of a higher-degree impulsive wave. The price at 83,455.38 is near the 38.2% retracement of Wave 3 (84,346.10) and the 1:1 Wave C projection (85,006.49).
- Wave 4 (A-B-C): Wave A (100,935.08 to 87,508.38), Wave B (87,508.38 to 98,433.19), Wave C (98,433.19 to 83,455.38, nearing 1.618 extension at 76,708.79).
- Next Move (Wave 5)**: If the price holds above 79,108.68 and breaks 87,508.38, Wave 5 should target 95,377–112,007.
- **Bearish Risk**: A break below 79,108.68 could lead to a deeper correction toward 76,708.79 or 66,655.75.
- **RSI Support**: RSI at 44.8 (near oversold) with a bullish divergence at 37 supports a potential Wave 4 low.
- **Key Levels**: Support at 79,108.68; resistance at 87,508.38, 98,433.19, and 112,007.
Current Position: BTCUSD is likely completing Wave 4 of a higher-degree impulsive wave. The price at 83,455.38 is near the 38.2% retracement of Wave 3 (84,346.10) and the 1:1 Wave C projection (85,006.49).
- Wave 4 (A-B-C): Wave A (100,935.08 to 87,508.38), Wave B (87,508.38 to 98,433.19), Wave C (98,433.19 to 83,455.38, nearing 1.618 extension at 76,708.79).
- Next Move (Wave 5)**: If the price holds above 79,108.68 and breaks 87,508.38, Wave 5 should target 95,377–112,007.
- **Bearish Risk**: A break below 79,108.68 could lead to a deeper correction toward 76,708.79 or 66,655.75.
- **RSI Support**: RSI at 44.8 (near oversold) with a bullish divergence at 37 supports a potential Wave 4 low.
- **Key Levels**: Support at 79,108.68; resistance at 87,508.38, 98,433.19, and 112,007.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.