Bitcoin is consolidating just above key support after a textbook correction. The first chart shows a completed Falling Wedge breakout from Wave ④, while the second chart lays out macro Fibonacci targets for Wave (5).
Chart 1 (Daily): Local Breakout Setup
• Falling wedge breakout above 83.9K–84.3K
• Completed structure: Wave ③ → ④ → Potential Wave ⑤
• Invalidation: Below 73.8K or worst-case 69.5K
• Bullish continuation requires break & close above 86K
Chart 2 (Weekly): Macro Target Projections
Using Fibonacci extension from Wave (3), BTC shows:
• 0.618 Target = $114,983
• 1.000 Target = $140,033
• 1.618 Target = $180,560
If current support holds, Bitcoin could be entering a massive Wave (5) cycle with upside potential towards $140K–$180K. Reclaiming levels like $92.5K, $101K, and $106K will confirm the bullish structure.
What’s your Wave 5 target?
#Bitcoin #BTC #BTCUSDT #CryptoAnalysis #ElliottWave #Fibonacci #CryptoTA
Chart 1 (Daily): Local Breakout Setup
• Falling wedge breakout above 83.9K–84.3K
• Completed structure: Wave ③ → ④ → Potential Wave ⑤
• Invalidation: Below 73.8K or worst-case 69.5K
• Bullish continuation requires break & close above 86K
Chart 2 (Weekly): Macro Target Projections
Using Fibonacci extension from Wave (3), BTC shows:
• 0.618 Target = $114,983
• 1.000 Target = $140,033
• 1.618 Target = $180,560
If current support holds, Bitcoin could be entering a massive Wave (5) cycle with upside potential towards $140K–$180K. Reclaiming levels like $92.5K, $101K, and $106K will confirm the bullish structure.
What’s your Wave 5 target?
#Bitcoin #BTC #BTCUSDT #CryptoAnalysis #ElliottWave #Fibonacci #CryptoTA
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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.