In this technical 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, Bitcoin is doing a correction against the 56510 low, which is unfolding as a Flat pattern. Now, the crypto is showing impulsive sequences in the cycle from the June 7th peak, which can be the last leg of the proposed Flat pattern. Consequently, we expect more short-term weakness in the near term. In the further text, we are going to explain the wave count.
BTCUSD H1 Weekend Update 06.23.2024
BTCUSD has broken the previous low, confirming more downside in the near term against the 66484 pivot. The current view suggests that the intraday recovery completed at the 64482 high as b red. While below that high, we believe the c red leg is in progress toward new lows, targeting the 61592-59793 area. We expect Bitcoin to keep finding intraday sellers in 3, 7, and 11 swings.
BTCUSD H1 London Update 06.24.2024
Bitcoin made a further decline as expected, reaching our first target zone at 61592-59793. From there, we can see an intraday bounce. The count has been adjusted, now suggesting we are potentially still within wave (iii), which is part of the last leg of the proposed Flat pullback. We don’t recommend forcing trades in BTCUSD at this stage.
Remember, the market is dynamic, and the presented view may have changed in the meantime. For the most recent charts and target levels, please refer to the membership area of the site. The best instruments to trade are those with incomplete bullish or bearish swing sequences. We put them in Sequence Report and best among them are presented in the Live Trading Room
Elliott Wave Forecast Membership
Trade with a clear plan — not guesswork.
At Elliott Wave Forecast, our team of professional analysts monitors 78 instruments across global markets every day, helping members identify high-probability opportunities and manage risk through a structured, rules-based trading process.
Inside your membership, you’ll receive:
✅ Real-Time Trading Recommendations — with clearly defined Entry, Stop Loss, and Take Profit levels for each setup.
✅ Live Trading Room Access — follow professional trade setups as they develop in real time.
✅ 24-Hour Chat Room Support — ask unlimited questions and receive guidance from experienced analysts throughout the trading week.
✅ Expert Multi-Market Analysis — covering Forex, Stocks, Indices, ETFs, Commodities, and Cryptocurrencies.
✅ Exclusive Educational Videos — included at no additional cost, with practical lessons on Elliott Wave theory, trading strategies, risk management, and trade execution.
✅ Learn the Process Behind Every Setup — understand how experienced analysts identify opportunities, define risk, and manage trades as market conditions evolve.
Ready to see how the process works in real market conditions?
Regular 14-Day Trial: $9.99
Limited-Time Price: Only $0.99
👉 Start Your 14-Day Trial for Only $0.99
