In this video, I break down Bitcoin on the Daily, 4hr & 15min charts using Elliott Wave Theory. You’ll discover both bullish and bearish scenarios, plus the critical price levels and targets to watch.
Stay ahead of the next potential BTC move! Video by Koenz Trading.
Current technical analysis suggests two prevailing scenarios based on different Elliott Wave counts:
Bearish Short-Term Outlook: One analysis suggests that the recent price action is part of a larger corrective wave structure (specifically wave (v) of a bearish impulse or wave (Z) of a triple zigzag). In this scenario, analysts predict a further near-term downward movement, with price targets around $80,842 or potentially lower, as the bearish impulse is not yet complete.
Bullish Long-Term Potential: Other prominent Elliott Wave models and quantitative analyses from sources like Fidelity point to a significantly higher price target, potentially exceeding $136,000 to $140,000+ by the end of 2025. This outlook is supported by factors such as institutional adoption, supply scarcity, and the traditional post-halving cycle momentum.
Key Insights
Diverging Views: There is a current divergence between very short-term (daily/weekly) bearish wave counts and broader long-term (monthly/yearly) bullish forecasts.
Key Levels: Key support levels are identified around $80,000 to $86,000, while resistance is seen near $94,000 to $97,100. A decisive break of these levels will likely dictate the next major move.
Macroeconomic Factors: The potential for U.S. Federal Reserve interest rate cuts and continued strong inflows into Bitcoin Spot ETFs are cited as major tailwinds that could support the long-term bullish predictions.
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