Hello traders, and welcome to another blog post. Today, we’ll be discussing recent blue box trading opportunities offered to Elliottwave-Forecast members, focusing on Bitcoin, BTCUSD.
BTCUSD is the premier, most traded, and popular cryptocurrency. It often sets the pace for the entire crypto market. It’s also often highly regarded as a risk asset with a strong correlation to the stock market. Bitcoin has been largely and fiercely bullish since its inception. Thus, bearish cycles present a perfect opportunity for buyers to find new entry. However, not all traders identify when a bearish cycle will start and can get caught buying at the top. With our daily live analysis in Group 2, traders have a daily, up-to-date view of the crypto market, especially Bitcoin, and five others we cover, including Solana, Ethereum, Binance Coin, Doge, and Ripple.
Following a strong bullish cycle that peaked in October 2025, after beginning in November 2022, a bearish cycle began to correct it. Historically, Bitcoin corrections typically do not exceed 100% of the preceding bullish cycle. Therefore, we anticipated the pullback from the October 2025 high would not extend to the November 2025 low of approximately $15,500. We also monitored the stock market alongside the crypto market during this bearish cycle.
While Bitcoin corrected the November 2022 cycle from the October 2025 high, the SPX corrected a similar cycle from April 2025 to January 2026. Although the paths were similar, the inflection points differed. However, the March low in the indices influenced many markets, leading us to believe the bearish cycle from the October 2025 Bitcoin high was complete. Alternatively, we prepared for at least a significant 3 or 7-swing bounce in case the bearish cycle continued. Our strategy was not to catch the low of the bearish cycle; instead, we waited for a five-wave recovery to finish and then bought the pullback that followed. Let’s examine the trade setup shared with members recently.
BTCUSD Elliott Wave Trade Setup – 8th May, 2026
The impulse recovery from the low in February 2026, where the current bullish cycle in BTC began, completed the 4th wave in April 2026. Consequently, wave 1 of (5) commenced in April 2026. Wave 2 then retraced, developing and completing a zigzag structure. Earlier this month, we shared the chart below with our members, which illustrates the blue box where we anticipated wave 2 to conclude.
Wave 2 of (5) evolved perfectly as a zigzag structure. Thus, we identified 79.62-78.33 as the zone that should contain the next pivot. Therefore, we recommended long trade to members from the zone. We expected to close half of the position at 50% of ((c)) of 2 and hold the rest at breakeven as wave 2.
BTCUSD Elliott Wave Trade Outcome – 10th May, 2026
Barely two days after, price bounced off the blue box zone zone significantly. Long trades reached the first target and open for bigger wins for members. That’s a textbook EWF setup.
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