In this technical article we’re going to take a look at the Elliott Wave charts charts of Bitcoin BTCUSD published in members area of the website. As our members know, we generally favor the long side in BTCUSD, and it has recently offered good trading opportunities. However, BTCUSD is currently correcting the cycle from the August low and is not ready for buying at this stage. Recently, we observed a recovery against the 108364 high, which unfolded as an Irregular Flat pattern. Once this flat correction was completed, the crypto declined as anticipated.

Before we take a look at the real market example of Expanded Flat, let’s explain the pattern in a few words.

Understanding the Expanded Flat Pattern

Elliott Wave Flat is a 3 wave corrective pattern which could often be seen in the market nowadays. Inner subdivision is labeled as A,B,C , with inner 3,3,5 structure. Waves A and B have forms of corrective structures like zigzag, flat, double three or triple three. Third wave C is always 5 waves structure, either motive impulse or ending diagonal pattern. It’s important to notice that in Irregular Flat Pattern wave B completes below the starting point of wave A.  Wave C ends above the ending point of wave A . Wave C of  Flat completes usually between 1.00 to 1.236 Fibonacci extension of A related to B, but sometimes it could go up to 1.618 fibs ext.

At the graphic below, we can see what Expanded Flat structure looks like

Visual Guide: Expanded Flat Correction Pattern in Elliott Wave Theory

Now, let’s take a look what Elliott Wave Flat Pattern looks like in the real market

Bitcoin BTCUSD 1h Hour Elliott Wave Analysis 01.05.2025

Currently, BTCUSD is correcting the cycle from the 108364 high. The Elliott Wave view suggests that the recovery is unfolding as an Irregular Flat Pattern. When we analyze the lower time frames, we can observe that the inner subdivisions of waves A and B (red) exhibit corrective sequences. Wave B has already broken below the starting point of wave A, while wave C is expected to break above the point of wave A, which is characteristic of an Irregular Flat pattern. At this stage, we see that the C leg is still missing another wave up to complete its structure as a 5-wave move. We recommend our members avoid buying at this stage.

You can learn more about Elliott Wave FLAT  and other Patterns at our Free Elliott Wave Educational Web Page

BTCUSD Wave Count: Irregular Flat Correction in Progress

Bitcoin BTCUSD 1h Hour Elliott Wave Analysis 01.09.2025

Bitcoin made another leg up in wave ((v)) of C, completing the (X) blue recovery at the 102730 high. As anticipated, the crypto turned lower. We are now looking for a break below wave B (red) to confirm that the next leg down is in progress. At this stage, we do not favor selling and would prefer to wait for the (Y) leg to reach the extreme area before considering buying BTC again.

Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent charts in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences.  For additional information on the best trading strategies for Bitcoin, visit our Live Trading Room and stay updated with the latest insights in our 24H Chat Room.

BTCUSD Update: Completed Correction and Next Potential Move

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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.

Reminder : You can learn more about Elliott Wave Patterns at our Free Elliott Wave Educational Web Page.

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

New to Elliott Wave ? Check out our Free Elliott Wave Educational Web Page and download our Free Elliott Wave Book.