BTC - 4H Elliott Wave Analysis
2025-01-19
Category: None

Greetings, this is an update for our BTC Elliott Wave count.

In the past days we created another low and saw a very impulsive reaction to it which can be very well counted as five Wave move up. We assume that blue Wave 4 has bottomed in the dip below 90k on the 13th January 2025 and that we started blue Wave 5.

We assume that the recent move up displayed as white Wave 1 is finished as a five wave move up displayed in green and that we started a retracement in white Wave 2. 
White Wave 2 support sits between the 0.382 FIB at 99337.8 USD and the 0.786 FIB at 92520.3 USD. After we finish white Wave 2 we can calculate targets for white Wave 3.

I'd like to add some comments regarding the count.
The recent price action is very bullish which opens us a few doors to different possibilities.
I'll make another post for "BTC - 1H Elliott Wave Analysis" where I'll discuss a count in case we get a more direct breakout. I'll link it below as note.

Be aware that we get the inauguration of Trump next week and the stock market is closed on Monday which both can have some effect on Crypto.
Noteworthy is that the red Wave C only touched the 0.618 FIB at 92815.9 USD which is a rare target but a valid one. If we get an aggressive sell of in the coming days we'd assume that the recent move up was only a reset of the red Wave B but we deem that rather unlikely. 
Additionally I added the 0.382 FIB at 99337.8 USD to the white Wave 2 support area because the recent price actions was very aggressive and bullish which could mean we only get a shallow retracement. The 0.382 FIB is a rare target for a Wave 2 but a valid and we have seen it in the past in Bitcoin.

Thanks for reading.

NO FINANCIAL ADVICE.
