Bitcoin Price Elliott Wave Price Update_ Understanding the Bullish and Bearish BTC Scenarios (5)

cryptrex

Bitcoin Price Elliott Wave Price Update_ Understanding the Bullish and Bearish BTC Scenarios (5)   Your Queries!   crypto  trump crypto  xrp crypto  best crypto to buy now  pi crypto value  sui crypto  xlm crypto  kraken crypto  crypto news  solana crypto  fear and greed index crypto  crypto apps  crypto arena seating chart  crypto atm near me  crypto arena capacity  crypto attacks  crypto arena seat view  crypto arena parking  crypto arena bag policy  ada crypto  airdrop crypto  app crypto  arena crypto  about crypto currency  a coin crypto  about crypto mining  about xrp crypto  about sui crypto  about xlm crypto  crypto bubbles  crypto bill  crypto burger  crypto bro  crypto bull run  crypto bank  crypto by market cap  crypto bitcoin  crypto bull run 2025  crypto banter  best crypto wallet  best crypto to invest  bubble crypto  buy crypto  best crypto exchange  best crypto trading platform  bull run crypto  blum crypto  bonk crypto  crypto calculator  crypto currency  crypto coins  crypto credit card  crypto crash  crypto cast  crypto charts  crypto cold wallet  crypto customer service phone number  crypto crash today  crypto better crypto better  crypto batter crypto batter  coin crypto  crash crypto  calculator crypto  coin trump crypto  currency crypto  crypto to crypto exchange  crypto app crypto  crypto wallet crypto com  crypto definition  crypto down  crypto debit card  crypto dropping  crypto day trading  crypto dispensers  crypto destroy all humans  crypto derivatives  crypto dinner  donald trump crypto  doge crypto  dogen crypto  defi crypto  dex crypto  dogs crypto  doge crypto price  degen crypto  dot crypto  depin crypto  crypto etf  crypto exchange  crypto etf list  crypto exchanges in usa  crypto explorer  crypto exchanges list  crypto etf vanguard  crypto ethereum  crypto etf fidelity  crypto etf stock  easy crypto  elon musk crypto  elon musk crypto coin

Transcript

00:00Hello and welcome to another update video on Bitcoin.

00:04Yeah, the Bitcoin chart has printed what I believe could be a five wave move up.

00:10I mean, I can identify five waves up on this chart, especially here.

00:15The last leg to the upside could indeed be a fifth wave.

00:20It's quite a messy structure, though, that's formed there.

00:23Ethereum structure looks a little better.

00:25I'm not fully convinced yet that the wave two has bottomed.

00:28What I can say, I can identify five waves, but that internal fifth wave could still stretch a little higher.

00:35It is really messy, this structure.

00:38You don't really have much.

00:42It doesn't make sense to count the nano structure.

00:44So I have seen exchanges where you could say where this was actually a lower low compared to this one.

00:51So this was a higher low.

00:53So then you have already a micro one, two, and it counts better as five waves.

00:58And the way I've got it here on the index chart, I mean, I would have to be forced to use this maybe as a small one, two.

01:05And you could call it a diagonal structure here to the upside.

01:08But it can be classed as five waves up already.

01:12I cannot rule out a little further upside.

01:14I mean, I have just looked at the Ethereum chart.

01:17On the Ethereum chart, we should also get a few more upside squiggles before the next pullback.

01:21I also have to say, if this is really the wave one of...

01:26Hold on.

01:28Wave one of this fifth wave, it would be a little short.

01:32So, I mean, I would have no problem with it extending a little further.

01:36It would indicate a little bit more strength, which is good because, as I said, the thesis is that the price might have bottomed.

01:45It's still too early to fully confirm it.

01:47We haven't even broken above resistance.

01:49But I'm leaning towards it at the moment, even though it's still delicate, still fragile structures.

01:56And I'm leaning towards it because I see those micro five wave movements to the upside printed across the sector.

02:02It was a good day.

02:04The stock market performed well today as well.

02:07And, yeah, all we need to do at the moment is to adjust support for this wave two.

02:13Now, what could be the case is that this is an A wave down, a B wave up, and a C wave down.

02:18And there we go.

02:20However, any break above the $115,740 level, the swing high, the intraday high, would rather suggest that wave one is extending.

02:30I don't see a reliable and clear wave two low anywhere here.

02:36So, it's not, you know, that wave two.

02:38If there was a wave two somewhere, it was not deep enough to be reliable.

02:43So, the only other scenario I can, you know, if we really break out completely and escalate from here, I could say maybe this was the one, two.

02:52And then this is another one, two setup.

02:55But, yeah.

02:55Again, this is a possibility.

02:59We're printing higher highs and higher lows.

03:02I can only share with you what I believe is the relevant support area.

03:05It doesn't mean this ever has to be tested.

03:07But it is the zone that needs to hold to keep the uptrend alive.

03:11Bear in mind, we're here on the five.

03:14We're back to that, you know, we're back again to where we are trusting the five-minute chart again, right?

03:22No, I mean, let's go to the 15-minute chart.

03:24It's not much better.

03:25But at least we see some level of detail here.

03:28So, the next objective for the bulls remains a break above that $116,220 level.

03:37And then from there, once this is broken, the market should reach here, the upper boundary line of our trend channel, around $119,200.

03:48You know, this is where that trend line is coming in.

03:49That would be the next objective for the bulls to first of all get there and ideally, of course, push higher and then move towards $126,000.

03:58So, yeah, that's the update on Bitcoin.

03:59I hope you liked the update.

04:00If you did, please hit the like button, leave a comment, and subscribe.

04:05And if you really like the content, then please check out the channel membership.

04:09I also invite you to join us on X for additional updates.

04:14There's always additional stuff here, shared updates and videos sometimes even.

04:20So, check it out.

04:21I'll leave a link in the description and the comment section.

04:24Thanks so much.

04:25Bye-bye.

04:26Bye-bye.

04:27Bye-bye.

04:28Bye-bye.

04:29Bye-bye.

04:30Bye-bye.

04:31Bye-bye.

04:32Bye-bye.

04:33Bye-bye.

04:34Bye-bye.

04:35Bye-bye.

04:36Bye-bye.

04:37Bye-bye.

04:38Bye-bye.

04:39Bye-bye.

04:40Bye-bye.

04:41Bye-bye.

Category

Transcript

Be the first to comment

Recommended