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!
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.