Bitcoin's macrostructure exhibits a well-defined impulsive motive wave sequence, currently progressing within a terminal Wave 5, forming a potential Ending Diagonal pattern.
The ascending trendline serves as a key structural support level, sustaining the broader bullish trajectory. Price action has confirmed a series of higher highs and higher lows, characteristic of a strong bullish market structure.
The critical resistance level around $73,500 aligns with prior wave peaks. The projected completion of the motive wave structure targets approximately $166,800-$180,000, where a major corrective wave sequence (ABC Zigzag or Flat) is anticipated.
The confluence of dynamic support levels, including the ascending trendline and previous structural highs, suggests a corrective retracement toward the $70,000–$75,000 region before potential re-accumulation.
Failure to maintain this immediate support as shown on the chart could expose deeper retracement zones near the secondary demand zone. Do let us know what you think of Bitcoin in the comment section.
The ascending trendline serves as a key structural support level, sustaining the broader bullish trajectory. Price action has confirmed a series of higher highs and higher lows, characteristic of a strong bullish market structure.
The critical resistance level around $73,500 aligns with prior wave peaks. The projected completion of the motive wave structure targets approximately $166,800-$180,000, where a major corrective wave sequence (ABC Zigzag or Flat) is anticipated.
The confluence of dynamic support levels, including the ascending trendline and previous structural highs, suggests a corrective retracement toward the $70,000–$75,000 region before potential re-accumulation.
Failure to maintain this immediate support as shown on the chart could expose deeper retracement zones near the secondary demand zone. Do let us know what you think of Bitcoin in the comment section.
Note
From a mid-term perspective, the waves remain closely aligned, with Wave 4 maintaining structural integrity within this count. For the Ending Diagonal formation to remain valid, the primary demand zone must hold as a critical support level. Fingers crossed let see how the market will play.
Note
Potential short term pattern, this will be validated when price regain above 84250 as the neckline with the target towards 92k.Meanwhile Micro update will still follow soonest.
Note
Price is still targeting a reclaim of the neckline; let's observe the next developments.
Trade active
The immediate support zone is expected to facilitate a rebound toward the 89K target, aligning with the upper boundary of the descending channel. However, if the price fails to break above the 90K level, a deeper retracement remains likely. The updated chart illustrates this scenario in detail.
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📢Follow the official links only! Trade smart, stay safe! 🎯
Telegram: t.me/+m0IACMn0ul03OTFk
Forex zone: t.me/+piiPgrNtrulkNDk0
💎 Premium details: t.me/wcsepayment
📩 Promotion/Partnership: t.me/WESLAD
Telegram: t.me/+m0IACMn0ul03OTFk
Forex zone: t.me/+piiPgrNtrulkNDk0
💎 Premium details: t.me/wcsepayment
📩 Promotion/Partnership: t.me/WESLAD
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.