In this article we’re going to take a quick look at the Elliott Wave charts of Bitcoin BTCUSD published in members area of the website. As our members know BTCUSD is showing impulsive bullish sequences in the cycle from the 52598 low , that are calling for a further strength. Recently we got a pull back that has ended at the Blue Box zone,our buying area. In the further text we are going to explain the Elliott Wave Forecast and trading setup.
BTCUSD Elliott Wave 1 Hour Chart 11.04.2024
BTCUSD is giving us correction that is unfolding as a Elliott Wave Double Three pattern. At the moment structure is still incomplete. Pull back shows lower low sequences. Bitcoin can see more downside toward 66813-63855 blue box ( buying zone). We don’t recommend selling Bitcoin and prefer the long side. From the marked zone, BTCUSD should ideally make either rally toward new highs or in 3 waves bounce alternatively. Once bounce reaches 50 Fibs against the ((x)) black high , we will make long position risk free ( put SL at BE) and take partial profits.
Official trading strategy on How to trade 3, 7, or 11 swing and equal leg is explained in details in Educational Video, available for members viewing inside the membership area.
Quick reminder on how to trade our charts :
Red bearish stamp+ blue box = Selling Setup
Green bullish stamp+ blue box = Buying Setup
Charts with Black stamps are not tradable. 🚫
Bitcoin ( BTCUSD ) Elliott Wave 1 Hour Chart 11.06.2024
BTCUSD made extension toward our buying zone : 66813-63855. The crypto found buyers at the blue box as expected and we got good reaction from there. Bitcoin made impulsive rally that broke toward new highs. As a result, traders who entered long positions are now enjoying risk-free profits. With the price holding above the 66865 low, we believe the next leg up can be in progress.
Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent charts with target levels in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room
New to Elliott Wave ? Check out our Free Elliott Wave Educational Web Page and download our Free Elliott Wave Book.
Elliott Wave Forecast
Thank you for exploring our Bitcoin Trading Setup. While we analyze 78 different instruments, it’s important to understand that not every chart is a trading recommendation. Therefore, for our official trading recommendations, we invite you to join us in our Live Trading Room. There, we provide actionable insights in real-time. If you’re not yet a member, you can take advantage of our 14-Day Trial to discover new trading opportunities.
Over time, we have refined a reputable trading strategy that accurately defines entry points, stop losses, and take profit levels. Consequently, by joining us, you will have the opportunity to learn from market experts and improve your trading skills.
Join us today !
📈 Elevate your trading with Elliott Wave Forecast!
🔍 Explore our expert insights and real-time analysis covering Forex, Indices, Commodities, Cryptocurrencies, Stocks, and ETFs across 78 instruments.
📊 Gain exclusive access to our Official Trading Recommendations in the Live Trading Room, where seasoned experts provide valuable insights and guidance on new trading opportunities.
💰 For just $9.99, unlock a wealth of knowledge and experience with our 14-day Trial. Experience firsthand our proven trading strategy, which accurately defines Entry, Stop Loss, and Take Profit levels, empowering you to make informed decisions with confidence.
👉 Ready to take the next step? Sign up now and seize the opportunity to enhance your trading performance. Click here to start your Trial today!
