Elliott Wave Analysis: BTCUSD and GBPAUD 

intraday gbpaud

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Elliott Wave Analysis: BTCUSD and GBPAUD

Bitcoin is following our predictions very nicely for the last few days if not weeks. In the last 24 hours price made a nice spike and turn up from 3600 area where we see evidences of a completed wave IV correction. Reason for a bullish view is a five wave rise in wave 1, so more upside can be in the cards after wave 2 set-back to 3900/4000 level.



GBPAUD is slow this week above 1.6150 level, but price structure shows evidences of a correction so we assume it’s just a pause within ongoing downtrend that is expected to resume soon into wave five of 3. There is room for a drop all the way down to 1.6000 psychological level where we also see 161.8% Fib. extension, plus Head and Shoulders measurement target.


intraday gbpaud

Disclosure: Please be informed that information we provide is NOT trading recommendation or investment advice. All of our work is for educational purposes only.



By Gregor Horvat

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