BTCUSDT : Correction Phase in Progress – Wave 4 Insights 🚨
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Analysis Overview :
BTC is in the Elliot Wave Cycle, and Wave 3 (Impulse Wave) has been completed. BTC now enters Wave 4, a corrective phase that typically signifies a market pullback. While a long-term move toward $200,000 remains valid, the current chart structure suggests a near-term fall.
Key Trade Levels :
Sell Zone : $108,000 - $110,000
Stop-Loss (SL) : $114,000
Target : $75,000
Technical Reasoning :
Market structure aligns with Elliot Waves Theory.
Wave 4 corrections historically follow strong Wave 3 impulses, indicating a probable retracement.
Resistance & Support Zones :
Immediate resistance near $110,000
Major support lies at $75,000, aligning with correction targets.
Pro Tip :
Short positions should only be taken with strict stop-loss discipline at $114,000 to limit risk. BTC remains bullish long-term, so manage trades carefully during corrections.
Conclusion :
BTC’s correction to $75,000 could offer fresh buying opportunities for long-term traders. However, patience and risk management are key in navigating Wave 4.