Current Status of BitcoinCurrent Price: ~$85,295
Wave A of an ABC corrective structure has completed (a sharp downward move).
Wave B is currently forming — expected to retrace upwards to the $92,000–$97,000 region.
Next Move: After Wave B, a significant Wave C decline is anticipated — targeting the $46,000–$58,000 zone.
🌀 Elliott Wave Breakdown
✅ Key Waves Identified:
The final Wave 5 of the impulse cycle has topped out around ~$100,000.
A corrective ABC pattern is now unfolding:
Wave A: Completed with a 5-wave downward structure.
Wave B: Currently in progress, following a typical 3-wave (a-b-c) correction.
Wave C: Expected to be a strong downward move, continuing the overall correction.
🔁 Key Support & Resistance Zones:
Short-term Resistance: ~$97,000 (potential top of Wave B).
Key Support Levels:
$73,000
$64,000
$58,000
Major support: $46,000–$50,000
📉 Suggested Trading Strategy
Scenario Suggested Action
If price moves up to GETTEX:92K – GETTEX:97K (Wave B) Look to short — likely entry point for Wave C
If price fails to reach that high Consider short positions from FWB:88K –$90k if reversal signals appear
If you're already in a short trade Hold your position and watch for confirmation of Wave C continuation
If planning to go long Wait until Wave C completes — potential long entry in the $50k–$58k range
🧠 Overall Outlook
The current wave pattern indicates a medium-term correction phase.
The broader trend is bearish until the ABC correction fully plays out.
Be cautious of strong upward retracements within Wave B — they often trap inexperienced
