Daily Elliott Wave Analysis for #Bitcoin $BTC and more!
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$BTC / #BTC
Shorter Timeframe
Bitcoin has moved very impulsively to the downside over the past few days.
This now raises the key question:
Is this sell-off already marking the start of wave c of (y) of II potentially taking $BTC below $50,000 and toward the 100% Fibonacci extension target at $39,436?
Or is Bitcoin currently forming a larger 1-2 setup before continuing the broader uptrend?
Due to the strong impulsiveness and the depth of the recent decline, we currently consider the bullish 1-2 scenario to be the less likely setup.
Our primary view is that Bitcoin is currently trading in wave ① of (c) to the downside. This move may still have further short-term potential toward the $63,000 region.
The reaction from that area will be crucial.
If Bitcoin then only recovers in a corrective three-wave ABC structure and rejects within the 50% to 78.6% Fibonacci retracement zone between $73,540 and $78,755, the bearish scenario would gain significant confirmation.
In that case, Bitcoin would likely continue lower in wave ③ of (c).
The most important level remains the 88.7% Fibonacci retracement at $62,362.
If this level breaks sustainably, we continue to expect $BTC to move toward the 100% Fibonacci extension target at $39,436.
For the bullish scenario to remain valid, Bitcoin would need to form the low of wave Ⓐ very soon, then recover in a three-wave move into wave Ⓑ, and subsequently hold above $62,362 during wave Ⓒ.
An impulsive reversal from that area would strongly support the view that Bitcoin is already in wave (iii) and that the broader uptrend is continuing.
Until then, $62,362 remains the key make-or-break level.
$NIO / #NIO
Macro Timeframe
From the perspective of Elliott Wave theory, NIO appears to have completed the Wave II/B correction in the form of a complex WXYXZ structure. In addition, the stock managed to break above the important interim high at USD 7.72, which can be
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$FLY
$RKLB
$NIO
$NOW
$NIO / #NIO
Macro Timeframe
From the perspective of Elliott Wave theory, NIO appears to have completed the Wave II/B correction in the form of a complex WXYXZ structure. In addition, the stock managed to break above the important interim high at USD 7.72, which can be interpreted as a constructive technical signal.
As long as NIO is able to hold the target area for Wave (2), located around the 50% to 78.6% Fibonacci retracement zone between approximately USD 5.55 and USD 4.85, there is a possibility that the low of Wave (2) has already been formed. However, this still needs to be confirmed by further price action.
For now, it remains important to watch whether the stock can continue to turn upward from this area and build further bullish momentum. A sustained move higher would support the view that the correction has ended, while a clear break below the mentioned Fibonacci zone could weaken this scenario.
$NIO / #NIO
Macro Timeframe
Yesterday Nio surged 15%, which looks like it is part of wave B. We're expecting Nio to consolidate further in this range between 7.72 USD and 3 USD for quite some time - afterwards, once Nio completes wave (2), the run will be phenomenal!
Comment
$NOW / #ServiceNow
Macro Timeframe
ServiceNow clearly belongs on the list of potential buy candidates from an Elliott Wave perspective.
We assume that the stock completed a clear five-wave structure in cyclical Wave I at around USD 240 at the end of January 2025. Since then, the stock has been undergoing the correction of cyclical Wave II and reached its low so far in April 2026 at around USD 81.
In our view, a transition into Wave III now appears to be emerging, which could open up significant upside potential. The key factor is that the Wave Ⓐ low at USD 136.08 must be sustainably exceeded. If this breakout succeeds, the bottoming process would be confirmed, and from an Elliott Wave perspective the stock would have established the foundation for a dynamic upward move in Wave III.
@EA32376@thinkingcrypto It's not about what can happen but rather what is the most probable scenario. Sure, it can go lower first; that's my alternative scenario on the right.
#Bitcoin / $BTC
Macro Timeframe
Bitcoin (Bull) – Leading Diagonal Scenario:
In the bullish scenario (which remains my primary scenario) we assume that we have completed the orange (1) as a leading diagonal and are now in the process of completing wave (3).
Bitcoin (Bear) – ABC Flat:
The bearish scenario remains valid up to 81k. In this scenario, the entire bear market was not built as a WXY, but as a classic ABC Flat. Here we would now be finished with the (4) of Ⓒ and the final downward movement is imminent.
For this reason, I am also posting this update here, as we are now shortly before the invalidation of the last (currently) serious bearish scenario. The bulls have invalidated all bearish scenarios in recent times (primarily on the smaller timeframe) and have been able to prevail. As long as this does not change and support on the smaller timeframes (e.g. 64932.04 $) breaks, I see no reason to be bearish here, as we are obviously in an uptrend.
#Bitcoin / $BTC
Micro Timeframe
First of all: If this post reaches 50 likes, I will update $ETH, $XRP and more!
We successfully dropped into the 62.5k region, where we had our ideal targets for this wave Ⓨ. There currently is the possibility that we get one more low, as the
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$NIO / #NIO
Macro Timeframe
Yesterday Nio surged 15%, which looks like it is part of wave B. We're expecting Nio to consolidate further in this range between 7.72 USD and 3 USD for quite some time - afterwards, once Nio completes wave (2), the run will be phenomenal!
Comment below which stock or coin I should update next!
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