Bitcoin - A Larger Corrective Wave Unfolding?
🚀 After an extended impulse wave, could Bitcoin now be entering a deeper corrective phase?
According to Elliott Wave Theory, after every strong impulse, a retracement is expected—often revisiting the area of Wave 4 of the prior impulse. This alternative scenario suggests a larger-degree correction, potentially forming a WXY structure, before any significant bullish continuation.
Key levels to watch:
🔹 89,480 – Potential resistance & retracement zone
🔹 75,957 – First target range
🔹 57,000 - 64,000 – Extended target range
📊 If this scenario plays out, Bitcoin could face more consolidation before resuming its long-term trend. What’s your take? Do you see a different structure emerging? Share your insights!
According to Elliott Wave Theory, after every strong impulse, a retracement is expected—often revisiting the area of Wave 4 of the prior impulse. This alternative scenario suggests a larger-degree correction, potentially forming a WXY structure, before any significant bullish continuation.
Key levels to watch:
🔹 89,480 – Potential resistance & retracement zone
🔹 75,957 – First target range
🔹 57,000 - 64,000 – Extended target range
📊 If this scenario plays out, Bitcoin could face more consolidation before resuming its long-term trend. What’s your take? Do you see a different structure emerging? Share your insights!
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.