In this video, we break down #Bitcoin on the 4h and 1h charts using Elliott Wave Theory. You’ll discover both bullish and bearish scenarios, plus the critical price levels and targets to watch. Video by Koenz Trading.
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As of January 19, 2026, Bitcoin (BTC) is trading at approximately $93,012. Following a peak of $126,000 in late 2025, Elliott Wave analysts are currently divided between two primary scenarios: a "Double Three" corrective recovery and a major "Post-Wave 5" macro bear market.
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Current Elliott Wave Counts
-Near-Term Recovery (Double Three): Bitcoin is currently in a corrective advance from its November 21, 2025 low of $80,537. This move is being labeled as a double three structure ((W)-(X)-(Y)). Within the ongoing wave (Y), BTC is attempting to complete a minor impulsive sequence toward $98,000.
-Macro Bear Market Scenario: Some analysts argue the $126,000 peak marked the completion of a multi-year five-wave impulse. If this count is correct, the current rally is a Wave B bounce within a larger ABC correction, likely to be followed by a deeper Wave C pullback toward $70,000–$84,000 by mid-2026.
-The Bullish Pivot: A decisive break and close above $100,200 would challenge the bear market thesis, while staying below the $107,500 resistance keeps the "bear market rally" label intact for most Elliott Wave practitioners.
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