BTCUSD Analysis – Bearish Elliott Wave Structure Unfolding
After BTC recently made a high around 111,959, we observed a clear impulsive bearish move followed by minor pullbacks.
The current market price stands at 103,396, and based on the structure, it appears that BTC is unfolding a bearish Elliott Wave pattern. If this holds, we could be in the midst of Wave 3, which typically shows strong momentum and continuation.
Key downside levels to watch:
99,620
97,670 – This level also aligns with a bullish breaker on the 4H chart, making it a potential area of interest for buyers.
Strategy:
My current approach is to sell on pullback, targeting the formation of lower highs and aiming for a break below the recent lower lows.
The current market price stands at 103,396, and based on the structure, it appears that BTC is unfolding a bearish Elliott Wave pattern. If this holds, we could be in the midst of Wave 3, which typically shows strong momentum and continuation.
Key downside levels to watch:
99,620
97,670 – This level also aligns with a bullish breaker on the 4H chart, making it a potential area of interest for buyers.
Strategy:
My current approach is to sell on pullback, targeting the formation of lower highs and aiming for a break below the recent lower lows.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.