Bitcoin – Long-Term View with Elliott Wave Structure

Bitcoin – Long-Term View with Elliott Wave Structure

Hello traders,

Let’s take a medium- to long-term look at BTC. The broader trend is clearly bullish, but for any uptrend to be sustainable, healthy corrections are necessary. At present, BTC is moving through a corrective phase, identified as wave 4 in the Elliott Wave structure.

To gauge how far this correction may extend before wave 5 begins, we can apply Fibonacci Retracement. Two key levels stand out: 0.618 and 0.5.

At 0.618, we see a strong support zone, but it may not yet be the decisive level for confirming the wave count. If BTC reacts positively here and rallies into wave 5, the Elliott structure remains clean and valid.

At 0.5, the level aligns with an ideal Fibonacci retracement ratio and also shows up as an important structural support on the chart. A break below this could trigger deeper downside, as highlighted by the ascending trendline.

Long-Term Trading Plan

Entry 1: Around Fibonacci 0.618 at 105k

Entry 2: Around Fibonacci 0.5 at 99k

This outlook fits a medium-term plan, but if the second zone (99k) provides a strong reaction, it could also become the base for a longer-term bullish structure.

Stay disciplined, monitor these levels closely, and trade with proper risk management.

What’s your view on BTC’s long-term structure? Share your thoughts in the comments.