BTC - 4H Elliott Wave Analysis - 20.08.25🚀🧨🎯
$BTC
Welcome back to another update, today the 4H timeframe instead of the 1H.
We're going to update ETH, XRP and SOL tomorrow.
Main Case:
We have extended to the downside in the correction but we didn't invalidate the immediate bullish count yet.
Due the deep correction we can't count this as Wave 2 anymore so we removed the impulsive count. If we get a move up now we assume it to be a Wave C in white of a potentially bigger move up as an ending diagonal which would potentially mark the top of the bullrun.
We also added a trendline breaking it would be the first sign of an incoming reversal. The move down looks rather corrective as to impulsive on the lower timeframes. If we take out the 115847 level it would increase the probabilities for the low being in.
Back-up Case:
If we break down lower we added a Support area between the 0.5 FIB at 109994 USD and the 0.786 FIB at 103047 USD which is a bullish set up but we have to warn that it has lower probability to take out the ATH afterwards than our current set up as it increases the probabilities for a count in which the recent move up was an ending diagonal that we finished already. But we do expect at least a bounce from it and would need to see if it is of corrective or impulsive nature to get more clarity.
Next target would be the 1.382 FIB at 108763 USD and the 1.618 FIB at 106273 USD.
Be aware that we have high impact news tomorrow at 14.30 (UTC +2) we get Unemployment Claims and at 15.45 (UTC +2) we get the Flash Manufacturing PMI which can shake up the market.
Thanks for reading.
NO FINANCIAL ADVICE.
