📉 BTCUSDT Elliott Wave Analysis – End of the Rally or Start of a Crash? ⚠️
On the BTCUSDT chart, it appears that the fifth wave of the impulsive structure is nearing completion. The wave count clearly shows a full five-wave sequence, suggesting that Bitcoin may be forming a major top around the $119,000–$125,000 resistance zone.
🔻 If price action confirms a reversal and breaks key support levels, we could see a deep correction potentially taking BTC below $90,000.
📌 Keep in mind this is a scenario based on wave structure and requires confirmation via breakdowns and price action.
💬 What do you think? Is Bitcoin ready for a major correction, or will it break into new all-time highs?
✅ Save this idea & follow for updates!
On the BTCUSDT chart, it appears that the fifth wave of the impulsive structure is nearing completion. The wave count clearly shows a full five-wave sequence, suggesting that Bitcoin may be forming a major top around the $119,000–$125,000 resistance zone.
🔻 If price action confirms a reversal and breaks key support levels, we could see a deep correction potentially taking BTC below $90,000.
📌 Keep in mind this is a scenario based on wave structure and requires confirmation via breakdowns and price action.
💬 What do you think? Is Bitcoin ready for a major correction, or will it break into new all-time highs?
✅ Save this idea & follow for updates!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.