{"id":13081,"date":"2025-05-12T21:39:55","date_gmt":"2025-05-12T21:39:55","guid":{"rendered":"https:\/\/alchemymarkets.com\/?post_type=market_insights&#038;p=13081"},"modified":"2025-05-12T21:39:57","modified_gmt":"2025-05-12T21:39:57","slug":"bitcoin-bullish-impulse-completed","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/it\/education\/market-insights\/elliott-wave\/bitcoin-bullish-impulse-completed\/","title":{"rendered":"Bitcoin Elliott Wave: Bullish Impulse Completed"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Executive Summary<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Bitcoin <strong>rallied 40%<\/strong> over the past month.<\/li>\n\n\n\n<li>The rally appears to be a completed impulse pattern.<\/li>\n\n\n\n<li>A decline to $93,450 would be considered normal over the next few weeks.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Completed Elliott Wave Impulse Pattern<\/h2>\n\n\n\n<p>On Sunday, May 11, Bitcoin\u2019s price appears to have completed a bullish <a href=\"https:\/\/alchemymarkets.com\/education\/guides\/elliott-wave-theory\/\">Elliott Wave<\/a> impulse pattern. There are a few scenarios to anticipate after a completed impulse. The majority of those scenarios point towards a complete retracement of the fifth wave of the impulse pattern.<\/p>\n\n\n\n<p>For Bitcoin, this implies a decline back to $93,450.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Current Bitcoin Elliott Wave Count<\/h2>\n\n\n\n<p>The rally that began on <strong>April 8 to May 11<\/strong> appears to be a completed impulse pattern consisting of five waves.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"771\" src=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/05\/BTCUSD_2025-05-12_16-23-35-1024x771.png\" alt=\"\" class=\"wp-image-13082\" srcset=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/05\/BTCUSD_2025-05-12_16-23-35-1024x771.png 1024w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/05\/BTCUSD_2025-05-12_16-23-35-300x226.png 300w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/05\/BTCUSD_2025-05-12_16-23-35-768x578.png 768w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/05\/BTCUSD_2025-05-12_16-23-35.png 1173w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>There is fairly strong <strong>wave geometry<\/strong> creating the impulse pattern.<\/p>\n\n\n\n<p>We can use our <a href=\"https:\/\/alchemymarkets.com\/education\/indicators\/fibonacci-extensions\/\">Fibonacci extension tool<\/a> to measure out the length of wave (v) relative to wave (i). <strong>Wave (v) is equal to the length of wave (i) near 105k<\/strong> which is a common wave relationship when the third wave is extended.&nbsp;<\/p>\n\n\n\n<p>It appears that wave (v) topped out at 105,719, near the target zone.<\/p>\n\n\n\n<p>Once the impulse pattern completes, oftentimes, the entire fifth wave of the sequence is retraced. This implies a decline to the <strong>wave (iv) extreme at $93,450<\/strong> is a high probability trend.<\/p>\n\n\n\n<p>Also, when we apply the <a href=\"https:\/\/alchemymarkets.com\/education\/indicators\/fibonacci-retracement\/\">Fibonacci retracement tool<\/a> to the April 8 to May 11 uptrend, the 38% Fibonacci retracement level crosses right at the wave (iv) at <strong>$93,826<\/strong>. This is very common geometry within a bullish impulse pattern.<\/p>\n\n\n\n<p>Notice in the chart above how there is a <a href=\"https:\/\/alchemymarkets.com\/education\/guides\/support-and-resistance\/\">support shelf<\/a> of prices near the same $93k. This $93k zone will likely act like a magnet and attract prices.<\/p>\n\n\n\n<p>This does not mean you want to short the market in anticipation of falling prices. The bullish impulse pattern suggests the larger trend is still higher. Therefore, use the falling prices as a means to reload long positions at lower levels.<\/p>\n\n\n\n<p>Prices do not have to stop at $93k. It is possible that a decline could dig deeper to $87k and that would be considered normal after a completed impulse pattern.<\/p>\n\n\n\n<p>A print below the 78.6% Fibonacci retracement level will be an early warning signal that another pattern is developing.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Bottom Line<\/h2>\n\n\n\n<p>Bitcoin appears to have completed a bullish impulse rally from April 8 to May 11.<\/p>\n\n\n\n<p>A <strong>decline to $93,450<\/strong> would be considered normal within a larger uptrend. The decline could dig deeper to $87k. Once the decline ends, we\u2019re <strong>anticipating a new rally<\/strong> to develop to new all-time highs.<\/p>\n\n\n\n<p>If Bitcoin drops below $81k then we\u2019ll consider a different pattern is in development and we\u2019ll need to reassess the wave count.<\/p>\n\n\n\n<p><strong><em>You might be interested in\u2026<\/em><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-wp-embed is-provider-alchemy-markets wp-block-embed-alchemy-markets\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"BZnLWcc4UG\"><a href=\"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/yen-joins-gold-at-the-hip\/\">Yen Joins Gold at the Hip (USDJPY Elliott Wave)<\/a><\/blockquote><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"&#8220;Yen Joins Gold at the Hip (USDJPY Elliott Wave)&#8221; &#8212; Alchemy Markets\" src=\"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/yen-joins-gold-at-the-hip\/embed\/#?secret=IM9F5aJC94#?secret=BZnLWcc4UG\" data-secret=\"BZnLWcc4UG\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Executive Summary Completed Elliott Wave Impulse Pattern On Sunday, May 11, Bitcoin\u2019s price appears to have completed a bullish Elliott Wave impulse pattern. There are a few scenarios to anticipate after a completed impulse. The majority of those scenarios point towards a complete retracement of the fifth wave of the impulse pattern. For Bitcoin, this [&hellip;]<\/p>\n","protected":false},"author":160,"featured_media":13084,"parent":0,"comment_status":"open","ping_status":"closed","template":"","market_insights_categories":[16],"class_list":["post-13081","market_insights","type-market_insights","status-publish","has-post-thumbnail","hentry","market_insights_categories-elliott-wave"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bitcoin Elliott Wave: Bullish Impulse Completed - Alchemy Markets<\/title>\n<meta name=\"description\" content=\"The Bitcoin Elliott wave appears to illustrate a completed impulse pattern. 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