๐๐น๐น๐ถ๐ผ๐๐ ๐ช๐ฎ๐๐ฒ ๐ฐ ๐๐ผ๐ฟ๐ฟ๐ฒ๐ฐ๐๐ถ๐ผ๐ป ๐๐ต๐ฒ๐ฎ๐ฑ? $๐ญ๐ญ๐ด๐-$๐ญ๐ฏ๐ฎ๐ ๐๐ผ๐๐น๐ฑ ๐๐ผ๐น๐น๐ผ๐ ๐๐ต๐ฒ ๐ฃ๐๐น๐น๐ฏ๐ฎ๐ฐ๐ธ
#Bitcoin has declined by 7%, perfectly aligning with our Elliott Wave analysis. If you successfully locked in profits on short positions or avoided entering long too soon, youโre managing the market like a pro.
Wave 2 Recap:
As anticipated, Wave 2 was relatively shallow, followed by a sharper pullback after the Ending Diagonal (ED) formation. This correction is crucial for positioning in the next bullish wave.
Previous Entry Levels:
The last significant buy zone was between $104K and $106K, giving traders a solid entry point during Wave 3.
Key Support Levels to Monitor:
Primary Support Zone: $96,000
Secondary Range: $94,000โ$96,000
Fibonacci Retracement Levels (Potential Targets):
0.382 FIB Level: $88,600
0.5 FIB Level: $84,200
Strategic Outlook:
With $BTC nearing key support levels, traders are advised to avoid high-leverage long positions at this stage. If the $94,000โ$96,000 range fails to hold, the next significant support zones are around $89,000 and $84,000.
The Bigger Picture:
Despite the current pullback, the broader trend remains firmly bullish. Once Wave 4 completes, Bitcoin has the potential to rally toward $118Kโ$132K, aligning with the long-term Elliott Wave projection.
Final Thoughts:
Stay cautious and avoid making impulsive decisions as BTC tests these critical levels. Maintain risk management strategies and avoid chasing trades prematurely. Wait for confirmation before entering new positions, and rememberโpatience pays in volatile markets.
