Bitcoin (BTCUSD) Incomplete Bear Streaks Calling Downward

In this technical article, we are going to take a look at the Elliott Wave charts of BTCUSD published in the members area of ​​the website. As our members know, we have had a lot of Bitcoin buy setups over the past 2 years. However, at this time buyers should be very careful as bitcoin is showing incomplete bearish streaks from the all-time high. The price pattern shows lower low sequences, suggesting that we can get more downside as long as the 48279.5 pivot passes. Since the price broke the 01.24 low on May 9, it has confirmed bearish streaks in Bitcoin suggesting a potential extension towards the 12470 area. In further text, we will explain the Elliott Wave predictions.

Analysis BTC/USD 4h hour Elliott Wave 26.05.2022

Bitcoin is bearish against the 48279.5 pivot. The current view suggests that the cycle from the above mentioned ends in a 5-wave structure – ((A)) black, and now we correct them. The bottom reaction is shallow to be considered a full correction at this point. We still expect to see another leg up (Y) of ((B)) before a fresh drop resumes ideally.

Analysis BTC/USD 4h hour Elliott Wave 06.10.2022

Bitcoin gave us another head start as we expected. The recovery from wave ((B)) is considered complete at 32480. As long as the price remains below this level, we expect further declines towards fresh lows in wave ((C)). A breakout of ((A)) low (05/12) is needed to confirm that the next leg is underway. BTCUSD 4h Hour Elliott Wave Analysis 06.21.2022 We are down again as expected. Eventually, Bitcoin broke the 5/12 low, confirming that the ((C)) leg is in progress. The crypto now remains bearish against the 3234.6 pivot in the first degree. Right now we are getting a rally (2) which should ideally give us new selling opportunities in 3,7,11 swings.

BTCUSD

Elliott BTC/USD 4-Hour Wave Analysis 21.06.2022

We got a further drop as expected. Eventually, Bitcoin broke the 5/12 low, confirming that the ((C)) leg is in progress. The crypto now remains bearish against the 3234.6 pivot in the first degree. Right now we are getting a rally (2) which should ideally give us new selling opportunities in 3,7,11 swings.

BTCUSD

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