Technical Analysis

Bitcoin Is Breaking HigherDec 4, 2023

Bitcoin is breaking higher as expected after we noticed a corrective price action in wave 4 on November 23. CLICK HERE

Bitcoin Is Breaking Higher BTCUSD 4H Chart From November 23
BTCUSD 4H Chart From November 23

As expected, Bitcoin with ticker BTCUSD is breaking higher and we can see strong rise now, with some sharp extensions to 40k level. Notice that we see price in fifth wave, about we talked in our past updates when we were tracking fourth wave consolidation. Well, bitcoin is now moving out of that fourth wave now, with a strong and sharp reaction, so fifth wave can be even looking for resumption up to 43k-44k area where bulls can slow down, after five subdivisions within the current fifth wave. So as long as the market is trading above short-term 38424 invalidation level trend is up. But keep in mind that after every five waves, the cycle can change, so it can be a bit too late for any potential longs in the short-term. But longer-term trend is up, and will likely resume, especially after higher degree retracement.

Bitcoin Is Breaking Higher BTCUSD 4H Chart From December 04
BTCUSD 4H Chart From December 04

Become a premium member

Get daily Elliott Wave updates for some major Digital currencies, FIAT currency markets, major stock indexes, gold, silver, crude etc. or apply for unlimited access to the Elliot Wave educational videos.

Metals Can Stay In Uptrend In 2024. Check our latest blog HERE.


Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.

By continuing to use the site, you agree to the use of cookies. Learn more.

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.