empty
24.04.2025 10:15 AM
BTC/USD Analysis – April 24th: Bitcoin Shows Signs of Revival

This image is no longer relevant

The wave pattern on the 4-hour chart for BTC/USD has become somewhat more complex. We observed a corrective downward structure that completed its formation around the $75,000 mark. Following this, a rather strong upward movement began, which could be the start of a new impulsive trend. Currently, the first wave appears to be complete, so a corrective wave 2 or b should be expected next. After that, Bitcoin's upward movement will likely resume, at least within the framework of wave c.

Bitcoin has long been supported by a steady flow of news about institutional investment, government involvement, and even pension funds. However, Trump's policies have recently driven some investors out of the market. Nonetheless, with the U.S. stock market and bond market in decline, investors may turn to Bitcoin as a hedge, as it is less influenced by Trump's decisions. Once again, Bitcoin is being viewed as a "crisis hedge," increasing the probability of renewed growth for the digital asset.

BTC/USD has surged by $19,000 in a short period, which is substantial considering the current global economic instability. The reasons for this rally are varied, but each of them can be reasonably questioned. For instance, Bitcoin began rising after reports emerged that Trump is not planning to fire Fed Chair Jerome Powell. But how exactly does Powell's job security relate to Bitcoin?

Many economists now expect the Fed to begin cutting rates. However, Powell has consistently stated that the FOMC will respond to changes in economic data, not to shifts in Trump's trade policies. Some are even anticipating a new round of quantitative easing (QE), which would inject new liquidity into the economy—similar to what we saw during the COVID-19 era. While such policies could benefit cryptocurrencies, especially Bitcoin, there is no sign of QE being launched yet. Moreover, it is highly questionable whether the Fed—after years of battling inflation—would now take steps that could reignite it.

So, much of the reasoning behind Bitcoin's rally seems speculative or, at the very least, highly debatable. Based on this, I believe we are more likely to see the formation of a corrective wave structure, rather than a new impulsive one. As I've stated in previous months, a prolonged and complex corrective phase still lies ahead.

This image is no longer relevant

Final Thoughts

Based on the analysis of BTC/USD, I conclude that the downward segment of the trend is still developing. All signs point toward a complex, multi-month correction. Therefore, I have not recommended buying Bitcoin before, and I see even less reason to do so now. In my view, the best approach remains looking for selling opportunities.

At this stage, Bitcoin appears to be forming a corrective upward sequence of waves, which has not yet completed. Once wave c concludes, I would begin to seek short positions, targeting the $75,000 level.

On the higher wave scale, we can still see a completed five-wave upward structure. What is currently unfolding looks like the beginning of a corrective, downward phase or potentially a full-blown bearish cycle.

Core Principles of My Analysis:

  1. Wave structures should be simple and clear. Complex patterns are difficult to trade and often unpredictable.
  2. If uncertainty dominates the market, it's better to stay out.
  3. There is never 100% certainty in market direction—always use Stop Loss orders.
  4. Elliott Wave analysis can be combined with other analytical methods and trading strategies.
Summary
Urgency
Analytic
Alexander Dneprovskiy
Start trade
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO

Recommended Stories

Criptomercado: la temporada de altcoins gana impulso

Criptomercado: a mediados de este mes, el par DOG/USD volvió a la zona de mercado alcista de mediano plazo, permaneciendo también en las zonas de mercado alcista de largo plazo

Jurij Tolin 14:33 2025-07-22 UTC+2

Recomendaciones para operar con el Bitcoin (BTC/USD) el 22 de julio según el sistema ICT.

El Bitcoin comenzó un retroceso bajista después de alcanzar el nivel de 123 200$. Sin embargo, este retroceso por ahora es solo una palabra. Diríamos que el Bitcoin simplemente dejó

Paolo Greco 07:51 2025-07-22 UTC+2

Recomendaciones para operar con el Bitcoin (BTC/USD) el 21 de julio según el sistema ICT.

El Bitcoin comenzó una corrección bajista después de haber alcanzado la marca de 123 200 $. Sin embargo, esta corrección puede describirse ahora con la frase "una broma

Paolo Greco 07:58 2025-07-21 UTC+2

Recomendaciones para operar con Solana (SOL/USD) el 21 de julio según el sistema ICT.

Solana sigue siendo actualmente el activo más atractivo para los traders. La criptomoneda mantiene un movimiento ascendente bastante sólido, pero al mismo tiempo se mueve de manera mucho más técnica

Paolo Greco 06:16 2025-07-21 UTC+2

Recomendaciones para operar con el Ethereum (ETH/USD) el 21 de julio según el sistema ICT.

El Ethereum sigue volando hacia el cielo. Mirando el movimiento actual al alza, ¿puede alguien decir que es consecuencia de razones fundamentales? Simplemente la demanda por el Ethereum está creciendo

Paolo Greco 06:14 2025-07-21 UTC+2

Recomendaciones para operar con el Bitcoin (BTC/USD) el 18 de julio según el sistema ICT.

El Bitcoin comenzó una corrección bajista después de haber alcanzado la marca de 123 200$ y la terminó literalmente al día siguiente. Desde el punto de vista del análisis técnico

Paolo Greco 07:50 2025-07-18 UTC+2

Recomendaciones para operar con el Bitcoin el 17 de julio según el sistema ICT.

El Bitcoin comenzó un retroceso descendente después de alcanzar la marca de 123 200$, pero por ahora eso es solo un nombre. El Bitcoin retrocedió, pero en el marco temporal

Paolo Greco 07:19 2025-07-17 UTC+2

Recomendaciones para operar con el Bitcoin el 16 de julio según el sistema ICT.

El Bitcoin comenzó una corrección bajista después de haber alcanzado el nivel de 123 200 $. En este momento, la caída ya es de unos 6 000 $. El "oro

Paolo Greco 08:09 2025-07-16 UTC+2

Recomendaciones para operar con Ethereum (ETH) el 16 de julio según el sistema ICT.

El Ethereum comienza a mostrar signos de independencia. En los últimos dos días, el Bitcoin se corrigió a la baja entre 6 y 7 mil $, mientras que el Ethereum

Paolo Greco 07:54 2025-07-16 UTC+2

Recomendaciones para operar con Solana (SOL/USD) el 15 de julio según el sistema ICT.

Solana, naturalmente, también mostró un crecimiento en los últimos días, pero en prácticamente cualquier marco temporal se puede ver que este crecimiento fue mucho más débil que el del Bitcoin

Paolo Greco 07:08 2025-07-15 UTC+2
¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.