This chart presents an Elliott Wave analysis of Bitcoin (BTC/USD) on a 4-hour timeframe, shared by Wave Count Pro. The pattern shows a complex corrective structure unfolding within a well-defined channel, with key turning points labeled as A, B, C, D, and a projected E.
Currently, price action is approaching a critical decision zone around $117,211.36. The analysis suggests two potential scenarios:
Bullish Breakout: If the price breaks above the $117,211.36 resistance, it could trigger a strong bullish move toward the upper trendline, targeting around $140,218.55 (labeled as point E).
Bearish Rejection: A failure to break above this level could lead to a pullback toward the lower boundary of the channel, possibly completing a wave (e) before a potential rally.
Key Levels:
Buy Above: $117,211.36
Sell Below: $113,966.84
WaveCount Pro
Gautam Khanna
Currently, price action is approaching a critical decision zone around $117,211.36. The analysis suggests two potential scenarios:
Bullish Breakout: If the price breaks above the $117,211.36 resistance, it could trigger a strong bullish move toward the upper trendline, targeting around $140,218.55 (labeled as point E).
Bearish Rejection: A failure to break above this level could lead to a pullback toward the lower boundary of the channel, possibly completing a wave (e) before a potential rally.
Key Levels:
Buy Above: $117,211.36
Sell Below: $113,966.84
WaveCount Pro
Gautam Khanna
İşlem kapandı: hedefe ulaştı
Technical Analyst BY Passion
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
Technical Analyst BY Passion
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.