$BTC

#bitcoin☀️ Chart Analysis

Today, #Bitcoin is rebounding after completing its 4th wave correction.

While a further decline cannot be ruled out, I currently view this as an upward movement to form the 3rd wave's 5th sub-wave.

At present, it seems the 1st sub-wave of the 3rd wave's 5th is complete, and Bitcoin is undergoing the 2nd corrective sub-wave.

Looking at two possible scenarios in detail:

Scenario 1: A short correction in the form of a WXY pattern, followed by an impulsive wave upwards.

The concern here is that the correction appears too short.

Scenario 2: Since the correction in the first scenario is too short, an irregular correction might occur.

If this happens, the price may at least retrace to the Fibonacci 0.382 level during the upward movement.

Besides these two scenarios, there is also the possibility of a deeper correction or a further decline.

It's always best to trade only after confirming the #trend .

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