BTC - 1D Elliott Wave Analysis - 31.05.26Bitcoin / TetherUS PERPETUAL CONTRACTBINANCE:BTCUSDT.PKanashimiBroWelcome to the update of our Elliott Wave Count for Bitcoin! :) Enjoy! The short term bias is to the upside. We got another low which was what we did prefer in our last Analysis to happen next. The high at 82'828.7 USD formed the orange A Wave and since then we have been working on the orange B Wave as yellow ABC of which we have potentially finished the A Wave. Another low is possible but the bias is for a corrective move to the upside soon. In our view the move to the upside would be either the yellow B Wave or a Wave 2. The resistance area for the B Wave starts at the 0.382 FIB at 76'406.0 USD to the 0.886 FIB at 81'643.9 USD. Be aware that the B Wave can overshoot. Only a move above 89k or a five Wave move to the upside would decrease the probabilities for the B Wave scenario. The more bearish alternative would be that the move up which we counted as orange A Wave is already a finished ABC correction and we started an impulsive move down. In this the move down from the 82'828.7 USD high was a Wave 1 displayed in green and the bounce up would be the green Wave 2 whose resistance area lies between the 0.382 FIB at 76'406.0 USD and the 0.786 FIB at 80'604.7 USD. If price touches the 0.886 FIB this scenario becomes unlikely and it would make the yellow ABC even more likely. The bullish but least preferred case is that the move up is not the orange A Wave but a multi 1-2 set up and we would get a Wave 3 soon. At the moment the scenario is unlikely due how the structure on the lower timeframes as we already mentioned in our last Analysis. We do not have this count on the chart but it is good to be informed about the possibility! If you found this Analysis helpful consider giving it as boost