BTC Short-Term Bearish Outlook

2024年12月4日

The price appears to be forming Major Wave 5, which is part of Cyclical Wave 3 on the higher time frame. Currently, we anticipate the price is completing Wave [iv], after which it is expected to move upward, breaking the recent high to form Wave [v] of Wave 3. Following this, a corrective Wave 4 is likely to occur, targeting lower levels.

According to Elliott Wave theory, Wave 4 often retraces to the range of the prior Wave 4 of a lower degree in the recent structure. Based on this guideline, our potential targets are as follows:

Targets of wave [iv]:

1st target 87,358
2nd target 83,00
3rd target 78,900

Targets of wave 4:

1st taget 89,200
2nd target 83,485
3rd Taget 78,468

By El- Sayed Owaidy, CETA, CFTe
Founder of The Egyptian Academy for Elliot Wave “EAEW”

2024年12月6日

交易進行

BTC is still in the process of forming wave 4. After breaking the recent high and reaching the 103,600 level, which appears to represent wave B of wave 4, it is expected that the price is now developing wave C of wave 4 within a flat formation. If this holds true, we anticipate a downward movement in five declining waves, potentially testing the low at 90,800 or finding support within the previous wave (iv) range of 89,200–87,358.

2024年12月17日

交易結束：目標達成

As anticipated, the price retraced to 90,754, marking wave A of the running expanded flat within the range of the previous wave 4. Following the completion of the ABC formation, we reached the first target of wave 5.