Elliott Wave Analysis on Bitcoin (BTCUSD)Elliott Wave Analysis on Bitcoin (BTCUSD)
Wave (I) and Wave (II) on Weekly Time Frame
Starting from the beginning of the Bitcoin chart, the first significant move up in price has been labeled as Supercycle wave (I). This wave represented the initial major bull run in Bitcoin's history, culminating in a peak, followed by a corrective phase, labeled as Supercycle wave (II). This corrective wave ended at the low observed in November 2022.
- Supercycle Wave (I): This wave exhibited impulsive characteristics with five clear subdivisions (waves 1, 2, 3, 4, and 5).
- Supercycle Wave (II): This was a corrective wave, taking the form of an ABC correction, and concluded in November 2022.
Wave (III) on Weekly Time Frame
Since the low of November 2022, Bitcoin has been unfolding Supercycle wave (III). This wave is expected to be a major bullish phase, often characterized by strong upward momentum and significant price increases. Wave (III) typically shows the following characteristics:
- Strength and Momentum: Wave (III) is usually the longest and most powerful wave in a five-wave cycle.
- High Volume: Accompanied by increased trading volume, indicating strong market interest.
- Impulsive Nature: This wave should subdivide into five smaller waves on a lower time frame, confirming its impulsive nature.
Subdivisions of Wave (III) on Daily Time Frame
Within the context of Wave (III) on the weekly time frame, we are currently analyzing the subdivisions on the daily time frame. The current structure suggests the following:
- Wave ((1)) of Wave (III): This wave is unfolding and subdividing into five smaller waves.
- Wave (1), (2), and (3) of ((1)): These waves have been completed.
- Wave (4) of ((1)): Recently completed around April 2024.
- Wave (5) of ((1)): Expected to breach the all-time high to confirm the start.
Current Status and Invalidation
- Current Status: Bitcoin is potentially in Wave (5) of ((1)) of Wave (III), which needs to breach the all-time high for confirmation.
- Invalidation Point: If the low of April 2024 (where Wave (4) finished) is breached, this would invalidate the current count. It would suggest that Wave (4) is still unfolding, possibly as a double correction.
Characteristics and Structure of Wave (III)
1. Wave ((1)): Typically the smallest wave but should be identifiable as a five-wave move.
2. Wave ((2)): A corrective wave, usually retracing between 50% to 61.8% of Wave ((1)).
3. Wave ((3)): Often the largest and most powerful wave, usually extends to 161.8% of Wave ((1)).
4. Wave ((4)): Another corrective wave, typically shallow, often retracing 23.6% to 38.2% of Wave ((3)).
5. Wave ((5)): Completes the impulse sequence, may extend or truncate but should be a five-wave move.
Conclusion
The Elliott Wave analysis on Bitcoin (BTCUSD) indicates a bullish market ahead, driven by the development of Supercycle wave (III). This analysis is based on the assumption that the low of April 2024 will hold, confirming the end of Wave (4) of ((1)) and the start of Wave (5) of ((1)). If this low is breached, the market might still be in Wave (4), unfolding as a double correction.
I am not Sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Hope this post is helpful to community
Thanks
RK💕
Disclaimer and Risk Warning.
The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
Bitcoinlong
1 Stock to buy. And MIGI, SDIG and EVRI updateJD stock looks good to enter. We may wait for confirmation or enter right now. MIGI and SDIG will show their hands maybe next year. Hopefully it will give us a great return. EVRI is the best setup right now but it may take 2 years or so to see good profits on this trade. I also closed all oil und Natural Gas positions.
Bitcoin - The halving breakout!Hello Traders and Investors, today I will take a look at Bitcoin.
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Explanation of my video analysis:
On the Bitcoin chart there are actually only three lines which you need to draw: First you have a horizontal structure at $16.000 which Bitcoin perfectly broke towards the upside with the last cycle in 2020. Furthermore Bitcoin is creating an ascending trendline - always rejecting towards the upside - and there is also a horizontal structure at the $67.000 level. Just don't get caught up in the short term moves.
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Keep your long term vision,
Philip (BasicTrading)
Bitcoin - The bullrun is not over (yet)!Hello Traders and Investors, today I will take a look at Bitcoin .
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Explanation of my video analysis:
For more than five years Bitcoin has been trading in a solid rising channel formation. We saw the last retest of support in 2022 which was followed by a bullish reversal on the smaller timeframes and an incredible rally of 300% towards the upside. Considering that Bitcoin is now retesting previous resistance, it is quite likely that we will see a short term rejection first.
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Keep your long term vision,
Philip (BasicTrading)
Bitcoin - $200.000 price target!Hello Traders and Investors, today I will take a look at Bitcoin.
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Explanation of my video analysis:
More than 4 years ago Bitcoin created a nice bullish ascending triangle formation and broke out above the resistance. This breakout was followed by a +270% move towards the upside. Currently Bitcoin is once again creating a similar ascending triangle formation and is currently retesting upper resistance. We might get a pullback but the overall trend is still very very bullish.
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Keep your long term vision,
Philip (BasicTrading)
Bitcoin TA - Upside Zones, Downside DCA Zones, Key LevelsWelcome to my Bitcoin TA where I go thru just the chart from a high level looking for areas of trading opportunities. The foundation of this whole video comes down to this:
I'm of the opinion Bitcoin will get above 100K.
So I'm doing TA on where to put my entry zones. - 1st Entry hit at 59,872
I'm out of all swings and also looking for swing entry zones.
I've shared this chart with all drawings organized in folders and such. I keep this updated and will share on future updates. This covers all VCs, significant levels, anchored vWAPs, key pivots, and more, all organized in the object tree:
www.tradingview.com
Here's what we cover in the video...
If Day RDA holds
The first thing we cover is if the current test of the Daily RDA holds what the upside trade looks like.
I identify the upside zones and key levels that I would watch and trade around.
The RDA ( RexDog Average with ATR ) is a bias and reaction zone indicator found here on TV, usage in description.
Pull Back Scenarios and DCA areas
RDA Week Projection Print - We cover the upside print of the week projection of if the all-time high is broke where we can expect the market to hit.
Immediate market view - I also dive into the immediate Market View using the 30 minute time frame, which I call the structure time frame. the key element there is that we are right at the mid control for the day.
Bias and Momentum - from here we cover buy us a momentum from a daily and weekly time frame.
Current Value Channel - we also talk about the key levels of the current value channel that BTC is trading within.
Anchored vWAPs - I also dive into anchored V waps from significant highs and significant lows. one of the major things that came about in this analysis was we are in a fight between the most recent significant high and low anchored vWAP. those levels couldn't be any more clear
RSI Signal Zones - we also dive into the RSI signals and the triangle pattern. currently waiting for a green triangle to complete the triangle pattern otherwise it looks like based on the RSI we could see more downside.
Best Crypto Trading Timeframe - I also share the single best time frame to trade crypto on especially for swing and long-term trades.
Bitcoin - Dont Fear The Dip MartyBoots here. I have been trading for 17 years and I am here to share my ideas with you to help the Crypto space. The Bull market is here
Even tho the bull market is here BTC has not fully mooned yet there is still time to buy on DIPS . The market has just hit a critical level but should go lower when ready. This is a bullish structure and dips are buys, when these dips happen BTC can start its move higher . This needs to be watched carefully.
BTC To The MOON
Please watch the video for more information
Bitcoin - How To Trade AprilHello Traders, welcome to today's analysis of Bitcoin.
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Explanation of my video analysis:
Last month Bitcoin finally broke above and also closed above the previous all time high which was roughly at the $60.000 level. Considering that Bitcoin is in a massively bullish market, we could just see more continuation towards the upside. But if we get a retest of the breakout level mentioned in the analysis, you can look for long setups if you are not long on Bitcoin yet.
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I will only take a trade if all the rules of my strategy are satisfied.
Let me know in the comment section below if you have any questions.
Keep your long term vision.
Bitcoin - Triangle BreakoutHello Traders, welcome to today's analysis of Bitcoin.
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Explanation of my video analysis:
After the quite expected break and retest on Bitcoin in December of 2022, Bitcoin started the next bullrun with a move of +350%. Furthermore Bitcoin is about to break out of a long term ascending triangle formation which could lead to seven-figure price targets. But first I am waiting for a retest of the level mentioned in the analysis to then add to my long positions.
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I will only take a trade if all the rules of my strategy are satisfied.
Let me know in the comment section below if you have any questions.
Keep your long term vision.
Bitcoin - Target 1.1 Million DollarsHello Traders, welcome to today's analysis of Bitcoin.
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Explanation of my video analysis:
After the simple break and retest of Bitcoin in January of 2023 we saw a beautiful reversal and already a pump of more than +250% towards the upside. Bitcoin has also been creating a massive ascending triangle formation and if we measure the potential price target of the triangle, also mentioned in the analysis, Bitcoin can reach 1.1 Million Dollars.
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I will only take a trade if all the rules of my strategy are satisfied.
Let me know in the comment section below if you have any questions.
Keep your long term vision.
BITCOIN SHATTERED Bull Market Doors! What NEXT??Welcome back! Let me know your thoughts in the comments!
** BTCUSD Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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Revised Bitcoin Path to $155k - $210k and $100k By the HalvingHere's my Revised Bitcoin Path to $155k - $210k and $100k By the Halving study.
Note: If you're using a Fib based on a Log scale these levels will change, but the $155k level is still the likely target based on a 1.618 vs a 3.618 projection.
In this video I've outlined the 10 factors including the ETF money flows already coming in.
Each of these factors could help ignite the other 9, and contributing to a near term mega rally.
The chart bars pattern in Blue is a copy of the previous cycle where this happened, so we we know this is possible.
A near term pullback from $50k is likely however, and healthy.
I anticipate this would be the best / safest entry point and best scenario for a much larger push higher as noted above.
I've also outlined 5 potentially negative factors which could slow growth, but are less likely.
Would love to hear your comments below!
Bitcoin - Important StructureHello Traders, welcome to today's analysis of Bitcoin.
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Explanation of my video analysis:
In 2018 Bitcoin created the previous cycle high which was roughly at the $17.000 level. In November of 2020 Bitcoin then broke above the resistance, came back to retest and started its new bullish cycle. If Bitcoin will now retest the confluence of support mentioned in the analysis, I will certainly be looking for more long setups to add to my current long position.
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I will only take a trade if all the rules of my strategy are satisfied.
Let me know in the comment section below if you have any questions.
Keep your long term vision.
Bollinger Bandwidth Indicating Bitcoin Rally Incoming?In the video, I share an article I read today about the Bollinger Bandwidth indicator which is potentially showing a market inflection point and imminent start to the next parabolic run.
I also share how I used standard Bollinger Bands differently, with slight modifications to make it very useful as a sell signal at market tops and major inflection points.
Let me know what you think!
Bitcoin - Buy Buy BuyHello Traders, welcome to today's analysis of Bitcoin.
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Explanation of my video analysis:
In 2018 Bitcoin created an obvious resistance level at the $17.000 level. This was the all time high of the previous bullish cycle. In 2021 Bitcoin then broke above this structure and came back to retest it in 2022. So far Bitcoin is looking very bullish and it also just broke above another key structure mentioned in the analysis. If we get a retest I will be looking for longs.
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I will only take a trade if all the rules of my strategy are satisfied.
Let me know in the comment section below if you have any questions.
Keep your long term vision.
[Watch] MARA versus Bitcoin 6️⃣4️⃣| Year to date:(3,42%)What is going on Team NASDAQ:MARA
Let's go over this chart 6M candles.
The idea is to have a map and an idea of what is real and not doable.
Can it move up 45$ in the next 6 months, yes it can because the asset did move that number before.
Remember until my next video...
Above All and All-in-All; God Bless America
J.R. Jaén
Risk Disclaimer:
1. Past Performance is not indicative of any future performance.
2. Trading and Investing are risky. Only trade and invest with resources and capital; you can afford to lose, and it will not change your lifestyle or family situation if you do not make the returns you wanted or if things go wrong and you lose everything.
3. I can and will have a position in MARA anytime because I like the stock and company.
4. Never go All-In. You do not have to buy with your rent money; you do not have to believe with all your savings because NO one is asking you to do so.
5. This video is a video log, a journal, and a path to share with others how they can gain exposure to Bitcoin without buying BTC directly or investing 40,000 dollars immediately.
[Watch] MARA versus Bitcoin 6️⃣3️⃣| Year to date:(3,42%)What is going on Team NASDAQ:MARA
Thank your for those coins, still if you can help someone in need, please do so.
There are so many sisters and brothers hungry, if you can help with some food, please do that.
Thank and humble for your appreciation.
RSI monthly view shares how far we are from any extreme overbought condition.
Also, the powerful monthly 20EMA describes a change in character and now this trend is up for Marathon Digital Holdings.
Lastly, MARA's Overview if you go to the All-Time is red 75% when that red goes green, then the ASYMMETRIC will be gone and yes, we might make money, but not crazy.
Keep these notes close to your hearts...
Remember until my next video...
Above All and All-in-All; God Bless America
J.R. Jaén
Risk Disclaimer:
1. Past Performance is not indicative of any future performance.
2. Trading and Investing are risky. Only trade and invest with resources and capital; you can afford to lose, and it will not change your lifestyle or family situation if you do not make the returns you wanted or if things go wrong and you lose everything.
3. I can and will have a position in MARA anytime because I like the stock and company.
4. Never go All-In. You do not have to buy with your rent money; you do not have to believe with all your savings because NO one is asking you to do so.
5. This video is a video log, a journal, and a path to share with others how they can gain exposure to Bitcoin without buying BTC directly or investing 40,000 dollars immediately.