Major Key Points to Consider
- Primary Scenario (Bearish) : Consider short positions from corrections below the level of 104000 with a target of 98600 – 87500. A sell signal: the price holds below 98000. Stop Loss: above 101150, Take Profit: 87500.
- Alternative Scenario (Bullish): Breakout and consolidation above the level of 104850 will allow the pair to continue rising to the levels of 110500 – 111500. A buy signal: the level of 104850 is broken to the upside. Stop Loss: below 102315, Take Profit: 110500 – 111500.
Technical Indicators
Trend: Short-term consolidation within a long-term uptrend
Support Levels: 94000 – 92500
Resistance Levels: 111265 – 110200
Momentum: Neutral to bullish on daily timeframe
Elliott Wave Analysis
On A Weekly Chart : A Rising Larger Wave 5 of Degree 5 is developing on the weekly chart of BTC/USD. Within this Larger Wave of Degree 5, the smaller wave of degree 4 is developing as wave 5 from April 2025.
On A Daily Chart : A Downward Wave 4 of Degree 3 is developing on the daily chart of BTCUSD. The Wave 1, 2 and 3 Has been completed on April 2025 and Aug 2025 of same degree 3. The wave 4 of Degree 4 is about to Finish or may be ended in quick recent time. To determine this the traders must wait till development.
On A 4-Hours Chart : The Final C leg of Wave 4 correction is still in process and about to end. Within this wave 4, The Smaller degree wave (iv) has been completed and price is moving in last phase of correction as wave (v).
If this Presumption is correct then BTC/USD may continue to Decline to the Price levels of 98600 – 87500.
BTC/USD : Current Rate in the Market
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of Webmile | Markets [A propriety of SingleDot Technologies]. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice. According to copyright law, this article is considered intellectual property, which includes a prohibition on copying and distributing it without consent.
This forecast is based on the Elliott Wave Theory. When developing trading strategies, it is essential to consider fundamental factors, as the market situation can change at any time.
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