Weekend BTC Update: Is Elliott Wave 3 Underway?
Hey everyone,
The weekend is here, and BTC is moving exactly as per our recent analysis. This post is a quick update on the current trend and a potential trading strategy based on Technical Analysis, specifically the Elliott Wave Theory.
Elliott Wave Analysis: Is Wave 3 Here?
Looking at the H4 chart, we are anticipating the start of a new Elliott Wave structure, and Wave 3 appears to be forming. This is a crucial signal for traders looking for a solid entry.
For this trend to continue, the key condition is that the support zone at $119.35k must hold.
If this level remains unbroken, we can confidently look for Long positions on BTC.
Simple & Effective Trading Strategy
Based on this scenario, here's how you can plan your trade:
Entry Point: Wait for the price to retest (come back to) the support zone near $119.35k.
Stop Loss: Place your stop loss just below this level, approximately 100 BTC points away to manage your risk.
Take Profit Target 1: Wave 3 is expected to push BTC towards the $115k zone to fill the previously formed market gap. After this, a Wave 4 pullback may begin.
The Big Opportunity: Wave 5
Wave 5 is typically a high-volume, high-liquidity move in Elliott Wave theory. For traders who prefer a safer approach with a longer-term take profit target, it's wise to wait and enter a position during Wave 5.
A Trader's Reminder
In a global market with so much geopolitical uncertainty, sticking purely to Technical Analysis is a great way to stay disciplined. It helps us avoid FOMO (Fear of Missing Out) and make objective, data-driven decisions.
Always practice sound risk management. Happy trading, and may your weekend be profitable!
Hey everyone,
The weekend is here, and BTC is moving exactly as per our recent analysis. This post is a quick update on the current trend and a potential trading strategy based on Technical Analysis, specifically the Elliott Wave Theory.
Elliott Wave Analysis: Is Wave 3 Here?
Looking at the H4 chart, we are anticipating the start of a new Elliott Wave structure, and Wave 3 appears to be forming. This is a crucial signal for traders looking for a solid entry.
For this trend to continue, the key condition is that the support zone at $119.35k must hold.
If this level remains unbroken, we can confidently look for Long positions on BTC.
Simple & Effective Trading Strategy
Based on this scenario, here's how you can plan your trade:
Entry Point: Wait for the price to retest (come back to) the support zone near $119.35k.
Stop Loss: Place your stop loss just below this level, approximately 100 BTC points away to manage your risk.
Take Profit Target 1: Wave 3 is expected to push BTC towards the $115k zone to fill the previously formed market gap. After this, a Wave 4 pullback may begin.
The Big Opportunity: Wave 5
Wave 5 is typically a high-volume, high-liquidity move in Elliott Wave theory. For traders who prefer a safer approach with a longer-term take profit target, it's wise to wait and enter a position during Wave 5.
A Trader's Reminder
In a global market with so much geopolitical uncertainty, sticking purely to Technical Analysis is a great way to stay disciplined. It helps us avoid FOMO (Fear of Missing Out) and make objective, data-driven decisions.
Always practice sound risk management. Happy trading, and may your weekend be profitable!
🔥 BrianLionCapital – Where Top Traders Unite
✅ Accurate signals & exclusive analysis: 10–15 signals daily with continuous market insights
⏳ Every minute you hesitate is a winning opportunity slipping away!
t.me/+jqCSSdKGm7YyMGZl
✅ Accurate signals & exclusive analysis: 10–15 signals daily with continuous market insights
⏳ Every minute you hesitate is a winning opportunity slipping away!
t.me/+jqCSSdKGm7YyMGZl
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🔥 BrianLionCapital – Where Top Traders Unite
✅ Accurate signals & exclusive analysis: 10–15 signals daily with continuous market insights
⏳ Every minute you hesitate is a winning opportunity slipping away!
t.me/+jqCSSdKGm7YyMGZl
✅ Accurate signals & exclusive analysis: 10–15 signals daily with continuous market insights
⏳ Every minute you hesitate is a winning opportunity slipping away!
t.me/+jqCSSdKGm7YyMGZl
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.