Bitcoin BTC Technical Analysis Price Prediction with Elliott Waves Analysis. #bitcoinprice #btc
So in today’s video I am going to be having another look at Bitcoin BTC to see if we can determine what is going on with the price so if you guys do appreciate the content please do consider subscribing to the channel give it a thumbs up and make sure you hit
Notifications Bell for when I’m uploading future content and with that let’s get straight into it so I am going to get in on what’s going on in the micro in just a second but for anyone that is new we would be tracking a first five wave move to the upside in a wave
One we then came down in a wave two and we are potentially in a third wave to the upside that’s how I’m currently looking at it at the moment there are some other scenarios that we are also watching on this channel so please do watch one of
My previous videos but I’m going to be just focusing on the bullish scenario for now um some of you may be aware that I did actually post on my community tab which I’m not sure I’ll be really honest with you guys I’m not even sure if I’m
Allowed to do this because this is kind of technically a signal you can’t really give signals on uh YouTube so I do Post these every now and then on YouTube but I do also have these um trade setup ideas on Twitter so maybe give me a follow on Twitter because I’m
Not sure if I’m going to be continuing to do this on um the community tab but I said possible trade setup could be in an ending diagonal in wave 5 wait for a break in the trend line and a retest Target would be 24 000 to 21 500 before I would
Expect a way through to the upside only take this trade with good risk management obviously no Financial advice you can clearly see here that I said that we were in an ending diagonal and I drew these trend lines on the chart for you and then gave you a pretty accurate
Idea of what could be potentially happening let’s now have a look to see if that has actually played out um and yeah well I mean it’s looking like it’s playing out doesn’t it so I’m just going to get rid of this for now um but we have actually now fallen out
Of the ending diagonal pattern so I I would say there is a good chance that this wave 5 has finished okay there is another way that I could maybe count this as an Elliott wave triangle so we just have to be aware that we may end up still going higher
But obviously with good risk management I gave you guys the Target that if we came out of this trend line tested it which is pretty much what we did um we have now started our move back down so how I would play this if you did
Get into this trade we did the retest we have now started to come down we’re not moving down very impulsively just yet um but I would especially when you’re going against the trend because the trend is up um I would definitely put a stop loss possibly at kind of break even
Um just in case this suddenly decides to start moving to the upside which we know uh Bitcoin can do so hope you guys appreciate that if anyone did take that then do let me know in the comments so what are the possible scenarios so I’ve got a POS two possible
Scenarios for you guys all right but my primary expectation is that we went up in a wave one in five waves okay and we’re coming back down in a wave two and then we’re going to get a third wave to the upside that is kind of my primary
Expectation however we do need to be aware that we can count this as a wave one we came down in a wave two this is another one two pattern and we could be potentially finding support in this box and then get a third wave to the upside
Okay so just please be aware of that and you know you really need to kind of if you are shorting into an uptrend you really need to have really good risk management otherwise you’re going to get absolutely wrecked um and obviously we don’t want anyone getting wrecked on this channel
So we did come up we tap that trend line to the top and we have now started that move down so if we are in this one two pattern we have to also bear in mind guys that we have this trend line which we were finding as resistance okay we
Are still above that trend line okay so it’s very well could very well be that we come back down we touch this trend line and we still get another move to the upside you just have to be aware of that because this was a quite a powerful trend line where we were
Finding it as resistance okay um so please please be aware of that okay so if we are going to fall back below that trend line then I also want to make you guys aware that we have the 200 week moving average which is coming in at 25
360. so if we are looking at this as another one two pattern we could come down to the 200-day moving average and find this box as support now this is the 50 coming in at 26 288 the 618 FIB coming in at 25 745 or the 786 FIB coming in at 24 973
Um but I do think that if we do drop below that we’re going to just fall back into this wave two target area and then we just look at all of this as a wave one and we are then coming down into this wave too and as long as we then
Hold the 50 at 24 075 or the 618 fear about 23 000 um or the 786 FIB coming in at 21 000 than 508 we have a chance to get this third wave to the upside just bear in mind though that if we do start to get down to 20 000
Um then I think you know we’re going to start invalidating this pattern obviously we can go all the way down it wouldn’t be technically broken until we come down and lose the 19589 level but if that happens then what would happen is is that we’re actually going to be falling back into
Let me just go on to the higher time frame quickly and we would then be falling back into this Wave 2 support box okay because this is a wave one this is a wave two Okay so if we do lose this here then we would
Then probably be looking at this as an a wave down this is an overshooting wave B and then we could still get into this area here which is between 20 000 390 all the way down to 17 541 and then we could still Rally from there you
Have Tyler bear in mind as well guys everyone is so bullish at the moment the greed and fear index is extremely high and I do think we are due a bit of a pullback to be honest with you guys all right so I’m not saying that we’re going
To get back down into this area here I do think we have a couple of support boxes that could help us to continue to the upside and I think if we do start coming down into this sort of general area we have a chance to find support
Here and if we lose this then we also have this trend line at the bottom here um which could act as support and May maybe we come down to the 24 075 region find this trend line as support okay and then we’d look at this as the wave one
We then come down we find support along this trend line in the wave two there is a lot of volume in this region here as well that we could potentially find support at maybe we do slip below it scare everyone out the market come down
To the 618 fib and then we can still get a third wave to the upside what would be the targets for that third wave I’m going to quickly give you guys a target for that but obviously it really kind of depends on how low we come down but
Let’s just say for argument’s sake we came down to the 618 fib we could then potentially get a third wave to the upside of at least thirty seven thousand four hundred and ninety three all right so I hope you guys enjoy the content please do consider subscribing to the channel
Give it a thumbs up and make sure you hit notifications as well when I’m uploading future content and with that take care stay blessed
Bitcoin BTC Technical Analysis Price Prediction with Elliott Waves Analysis. #bitcoinprice #btc
Bitcoin price prediction! Technical analysis and price prediction. Talking about the bitcoin price on higher level time frames and where the bitcoin price is expected to go in the future. Also included is some price targets for possible swing trades.Are we going to get a 10K bitcoin again? It is certainly possible with the current climate and what has happened with FTX
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