Major Key Points to Consider
- Primary Scenario (Bearish) : Consider short positions from corrections below the level of 104000 with a target of 80000 – 75000. A sell signal: the price holds below 90000. Stop Loss: above 90000, Take Profit: 80000 – 75000.
- Alternative Scenario (Bullish): Breakout and consolidation above the level of 96000 will allow the pair to continue rising to the levels of 103000 – 108000. A buy signal: the level of 96000 is broken to the upside. Stop Loss: below 96000, Take Profit: 103000 – 108000.
Technical Indicators
Trend: Short-term consolidation within a long-term uptrend
Support Levels: 75000 – 76000
Resistance Levels: 93000 – 96000
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 ((Y)) is developing on daily chart of BTCUSD as a part of Larger wave 4. the wave a and b has been completed already and the price is in wave c of wave ((y)).
On A 4-Hours Chart : The Final c leg of Wave ((y)) correction is still in process and about to end. Within this wave c Leg , The Smaller degree wave iv is developing as its part.
If this Presumption is correct then BTC/USD may continue to Decline to the Price levels of 80000 – 75500.
BTC/USD : Current Rate in the Market
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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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