Bitcoin Elliott Wave Analysis – Key Levels to Watch
Bitcoin is currently at a critical decision point, and here’s my analysis based on Elliott Wave Theory and trend structures.
Wave Structure Analysis
The price appears to be following a five-wave impulse structure.
Wave (3) has extended well beyond Wave (1), confirming the impulse pattern.
Wave (4) has respected key support levels and has not overlapped with Wave (1), maintaining a valid Elliott Wave structure.
Key Scenarios to Watch
Bullish Scenario (Wave 5 Expansion) 🟢
If Bitcoin breaks above the previous Wave (1) high, it could confirm Wave (5) continuation.
A breakout with strong volume could push BTC toward $109K – $130K levels.
️ Bearish Scenario (Trend Break)
If the price fails to hold the trendline and breaks below $73,764, we could see a drop toward the $50K demand zone.
A confirmed trendline breakdown would indicate a deeper correction before any further bullish continuation.
What to Watch?
Breakout confirmation above resistance
Trendline support reaction
Volume & momentum indicators (RSI, MACD)
Let me know your thoughts! Do you think BTC will hit new highs or face a correction?
This should be engaging and informative for the TradingView community! Let me know if you want any tweaks.