BTC - 4H Elliott Wave Count (part 2 of 2)
2025-01-16
Category: None

Greetings, this is my current Elliott Wave count for Bitcoin.

This time it is a bit different as I will do two separate post one containing the bullish count and one containing the bearish count. I split it up into two posts to keep the chart clean so it is easier to understand and I highly recommend reading both as none of them is preferred at the moment. I do post both counts now instead of waiting for clarity so everybody has time to prepare and get ready as the price might move fast especially with more news tomorrow the 16. January and the inauguration of Trump next Monday the 20th January. The counterpart counts will respectively be posted in the notes down below.

 The bearish count: 

In this count we assume that we are still working on the red Wave C and the recent rally is just the white Wave 2 which would be followed by an impulsive Wave 3 in white. The white Wave 2 unfolded in the orange ABC as an expanding Flat with the orange Wave B hitting the 1.38 extension of orange Wave A which is a common target for an overshooting B Wave.

The white Wave 2 support area is between the 0.5 FIB at 96908.9 USD and the 0.786 FIB at 100257.0 USD. We are currently trading within it.
Be aware that a sustained break above the 0.786 FIB at 100257.0 USD is the first indication that the blue Wave 4 has finished at the 88909.0 USD on the 13th of January. 
Noteworthy is that 100k is a psychological level and we might test it, which would go beyond the 0.786 FIB at 100257.0 USD but as long as it is a wick and not a sustained break that would be acceptable.

If white Wave 2 is finished potential targets for the white Wave 3 would be the 1 to 1 FIB at 88040.3 USD, the 1.236 FIB at 85277.6 USD, the 1.38 FIB at 83591.9 USD and the 1.618 FIB at 80805.8 USD. 

Important is that we see an impulsive five Wave move down now.

Thanks for reading.

NO FINANCIAL ADVICE.