- Elliott Wave Analysis for Bitcoin: Predicting the Path

In this technical article, we will review the Elliott wave charts for the Bitcoin (BTCUSD) currency pair published in the members' section on our website. As our members know, we predicted a decline in Bitcoin's price (BTCUSD) last year. The cryptocurrency market continued to decline as expected. The main target zone has not yet been reached, and we believe we may see further declines in the coming days.
In this discussion, we will analyze Elliott wave forecasts and present the target zone.

- Elliott Wave Chart for BTC/USD Pair on a 1-Hour Timeframe 06.05.2026
Current forecasts indicate that Bitcoin is experiencing strong downward sequences, with wave ((v)) approaching the completion of wave (3) (in red).
As our members know, the typical target range for wave ((v)) is determined using the Fibonacci extension of wave ((iv)) between 1.236 and 1.618. In this case, this range is between 60,555 and 55,992. From this range, we expect a three-wave corrective rebound before resuming the downward trend.

- Elliott Wave Chart for BTC/USD Pair on a 1-Hour Timeframe 06.10.2026
Bitcoin found buyers in the range of 60,555-55,992, achieving a three-wave rebound as expected. The overall outlook remains unchanged, with only a slight adjustment in wave counts.

At this stage, we consider wave ((iv)) to have completed at 64,200. As long as the price remains below this level, we expect further decline within wave ((v)).
We will use the same methodology to determine the target range for wave ((v)), based on the Fibonacci extension of wave ((iv)) between 1.236 and 1.618, which falls between 58,020 and 56,080.

Important note: Our analysis does not rely solely on Elliott wave theory. Instead, we conduct a detailed analysis of market cycles on longer timeframes, revealing an incomplete market structure. This is one of the main factors influencing price movement, alongside correlation analysis and the broader market context.
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