BTCUSDT - Elliott Wave Analysis: Wave 5 Targeting $115,000
Market Overview
- BTC is unfolding a classic Elliott Wave impulse, currently correcting in Wave 4.
- This correction has established strong support near the $94,500-$96,000 zone, aligning with the 38.2%-50% Fibonacci retracement of Wave 3.
- The Wave 5 target is projected at $115,000, based on Fibonacci extensions and historical price momentum.
Technical Analysis
1. Wave Count Breakdown:
- Wave 1: Initiation of bullish momentum with a strong breakout.
- Wave 2: Healthy retracement establishing a higher low.
- Wave 3: Extended bullish rally, peaked at $108,000, showing typical impulsive strength.
- Wave 4: Ongoing corrective phase, respecting key Fibonacci retracement levels.
- Wave 5 (Projected): Anticipated bullish rally toward $115,000, potentially extending to $118,000 under strong momentum.
2. Key Levels to Watch:
- Support Zones:
- $93,000-$94,000: Key demand zone where buying interest is evident.
- Break below $92,000 invalidates the bullish Elliott Wave structure.
- Resistance Levels:
- $108,000: Wave 4 high, pivotal for confirming a bullish breakout.
- $115,000: Projected Wave 5 target based on 1.618 Fibonacci extension of Wave 3.
- $118,000: Secondary extension level if bullish momentum sustains.
3. Fibonacci Analysis:
- Wave 4 Correction:
- Aligns with the 38.2%-50% retracement of Wave 3, a standard correction zone.
- Wave 5 Projection:
- Targets 1.618 Fibonacci extension of Wave 3, landing near $115,000.
4. Trendline Analysis:
- A rising trendline connecting Waves 1 and 3 provides structural support.
- Parallel projection supports the expected upward movement toward Wave 5.
Momentum and Indicators
1. RSI (14):
- Wave 4 correction shows RSI consolidating in the 40-50 zone, indicative of oversold conditions.
- A bullish crossover above 50-60 will confirm the start of Wave 5.
2. MACD (12, 26, 9):
- MACD histogram flattening during Wave 4 indicates diminishing bearish pressure.
- A bullish crossover on MACD lines will serve as a strong signal for Wave 5 initiation.
3. Volume Profile:
- Accumulation in the $93,000-$94,000 zone reflects strong institutional interest.
- Wave 5 should see a notable rise in volume as price approaches $108,000 and breaks out toward $115,000.
Trading Plan
1. Entry Points:
- Accumulate positions in the $94,500 - $96,000 support zone.
- Add on breakout confirmation above $108,000 for conservative entries.
2. Stop-Loss:
- Place below $92,000 to limit downside risk and invalidate the current wave structure.
3. Profit Targets:
- Primary Target: $115,000 (Wave 5 Fibonacci extension).
- Stretch Target: $118,000 if momentum sustains post-breakout.
4. Risk Management:
- Risk no more than 1%-2% of capital per trade.
Scenarios
1. Bullish Scenario:
- Price holds the $94,000-$96,000 zone and breaks above $108,000 with volume confirmation.
- Wave 5 achieves $115,000, with possible extensions to $118,000.
2. Bearish Scenario:
- Failure to hold $92,000 invalidates the current Elliott Wave structure.
- Price may retrace deeper, targeting the $88,000-$90,000 zone.
Pro Summary
BTC is setting up for an impulsive Wave 5 rally, with $115,000 as the primary target. A breakout above $108,000 will confirm the next leg of the bullish trend. Maintain a disciplined approach with stops below $92,000 and adjust positions as the price action unfolds. 🚀
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Trading cryptocurrencies involves significant risk, and you should do your own research or consult with a professional before making any investment decisions.
- BTC is unfolding a classic Elliott Wave impulse, currently correcting in Wave 4.
- This correction has established strong support near the $94,500-$96,000 zone, aligning with the 38.2%-50% Fibonacci retracement of Wave 3.
- The Wave 5 target is projected at $115,000, based on Fibonacci extensions and historical price momentum.
Technical Analysis
1. Wave Count Breakdown:
- Wave 1: Initiation of bullish momentum with a strong breakout.
- Wave 2: Healthy retracement establishing a higher low.
- Wave 3: Extended bullish rally, peaked at $108,000, showing typical impulsive strength.
- Wave 4: Ongoing corrective phase, respecting key Fibonacci retracement levels.
- Wave 5 (Projected): Anticipated bullish rally toward $115,000, potentially extending to $118,000 under strong momentum.
2. Key Levels to Watch:
- Support Zones:
- $93,000-$94,000: Key demand zone where buying interest is evident.
- Break below $92,000 invalidates the bullish Elliott Wave structure.
- Resistance Levels:
- $108,000: Wave 4 high, pivotal for confirming a bullish breakout.
- $115,000: Projected Wave 5 target based on 1.618 Fibonacci extension of Wave 3.
- $118,000: Secondary extension level if bullish momentum sustains.
3. Fibonacci Analysis:
- Wave 4 Correction:
- Aligns with the 38.2%-50% retracement of Wave 3, a standard correction zone.
- Wave 5 Projection:
- Targets 1.618 Fibonacci extension of Wave 3, landing near $115,000.
4. Trendline Analysis:
- A rising trendline connecting Waves 1 and 3 provides structural support.
- Parallel projection supports the expected upward movement toward Wave 5.
Momentum and Indicators
1. RSI (14):
- Wave 4 correction shows RSI consolidating in the 40-50 zone, indicative of oversold conditions.
- A bullish crossover above 50-60 will confirm the start of Wave 5.
2. MACD (12, 26, 9):
- MACD histogram flattening during Wave 4 indicates diminishing bearish pressure.
- A bullish crossover on MACD lines will serve as a strong signal for Wave 5 initiation.
3. Volume Profile:
- Accumulation in the $93,000-$94,000 zone reflects strong institutional interest.
- Wave 5 should see a notable rise in volume as price approaches $108,000 and breaks out toward $115,000.
Trading Plan
1. Entry Points:
- Accumulate positions in the $94,500 - $96,000 support zone.
- Add on breakout confirmation above $108,000 for conservative entries.
2. Stop-Loss:
- Place below $92,000 to limit downside risk and invalidate the current wave structure.
3. Profit Targets:
- Primary Target: $115,000 (Wave 5 Fibonacci extension).
- Stretch Target: $118,000 if momentum sustains post-breakout.
4. Risk Management:
- Risk no more than 1%-2% of capital per trade.
Scenarios
1. Bullish Scenario:
- Price holds the $94,000-$96,000 zone and breaks above $108,000 with volume confirmation.
- Wave 5 achieves $115,000, with possible extensions to $118,000.
2. Bearish Scenario:
- Failure to hold $92,000 invalidates the current Elliott Wave structure.
- Price may retrace deeper, targeting the $88,000-$90,000 zone.
Pro Summary
BTC is setting up for an impulsive Wave 5 rally, with $115,000 as the primary target. A breakout above $108,000 will confirm the next leg of the bullish trend. Maintain a disciplined approach with stops below $92,000 and adjust positions as the price action unfolds. 🚀
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Trading cryptocurrencies involves significant risk, and you should do your own research or consult with a professional before making any investment decisions.
Trade active
🎯 BTC/USDT WAVE 5 START - 18% UPSIDE POTENTIAL
✅ Entry: $92,681
📈 Target: $115,809 (18% ROI)
📊 Strategy:
- Wave 5 initialization phase
- Strong support at 92.6K
- Previous peak at 108.3K
- Clear Elliott Wave structure
⚠️ Key Points:
- Wave 4 completion
- Wave 5 momentum building
- Volume supporting uptrend
- Critical market movement approaching
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.
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.