Elliott Wave analysis of the EUR/GBP market on the 4-hour timeframe.
Wave B marks the end of a corrective phase, where the price moved downward in a corrective wave structure.
Impulse move upwards: After reaching Wave B, the price started a strong upward move, potentially confirming the beginning of Wave C.
πΉ Wave 2 nearing completion, with a potential bottom forming around 112 USDT (invalidation level).
πΉ Bullish confirmation needed for a long-term rally towards new highs.
πΉ Breakout above key resistance would confirm Wave 3 uptrend.
π Next target: 300+ USDT if bullish wave structure holds.
BTCUSD 1W UPDATE
π Bitcoin (BTC/USD) Weekly Elliott Wave Analysis
Current Trend: Bitcoin is in Wave 4 correction, testing key support on the ascending trendline.
Next Move: If support holds, BTC could rally into Wave 5, targeting 120K – 130K.
Post-Wave 5: A major correction could follow, potentially dropping BTC to 40K – 50K.
Key Levels:
Support: ~80K – 86K (must hold for bullish continuation).
Resistance: ~120K – 130K (potential Wave 5 target).
Trading Plan:
β
Look for bullish confirmation near support for a long setup.
β Break below support could invalidate the bullish structure.
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