elliottwaves

Bitcoin (BTC) experienced a turbulent February, with prices falling 22% amid a prolonged corrective phase. However, recent technical analysis suggests the bearish momentum may be subsiding, paving the way for a potential reversal or consolidation phase. Here’s a breakdown of the Elliott Wave structure and key levels to watch.

Elliott Wave Perspective: Corrective Phase Nears Completion

Bitcoin’s price action in February unfolded as part of a broader corrective pattern, labeled as Wave 4 in Elliott Wave Theory. This correction followed an all-time high of $108,364, achieved in early 2025, after which an ABC correction took hold. The decline, which included a sharp five-wave impulsive move to the downside, appears to have concluded near critical support at $94,780. A breach of this level could invalidate the bullish thesis, but holding above it strengthens the case for a Wave 5 breakout.

Key Support and Resistance Levels

Support: The $94,780 level remains pivotal. A sustained close above this zone confirms the end of the correction and aligns with the descending channel breakout observed in mid-February.Resistance: If Bitcoin reclaims $100,000, it could signal the start of Wave 5, targeting new highs above $110,000.

Short-Term Outlook

While the long-term trend remains bullish, short-term volatility persists. Traders should monitor the 1-hour chart for signs of bullish momentum, particularly if prices stabilize above $98,000. A failure to hold this level could lead to retesting $94,780.

Historical Context and Projections

Bitcoin’s price history shows resilience, with a recovery to $84,373 by late February 2025 after a steep correction. This aligns with the Elliott Wave expectation of a corrective ABC structure completing before the next bullish impulse.
Conclusion

The February correction may finally be nearing its conclusion, setting the stage for Bitcoin’s next major move. Bulls need a decisive breakout above $100,000 to confirm Wave 5, while bears await a breakdown below $94,780 to challenge the bullish narrative. Traders should remain cautious but position for potential volatility ahead.

$BTC $ETH
#bitcoin #Binance #elliottwaves #analysis

$SUI

Hey Binance Fam,
Remember those altcoins that were pumping and dumping, leaving you scratching your head? Well, SUI has been a different story. This coin has been a real performer, bringing smiles to the faces of many holders. While the crypto market can be a rollercoaster, SUI has been a steady climber.
But here's the question: Is this the peak? Or is SUI ready to soar even higher, challenging the likes of Ethereum? Let's dive in!
Charting the Course with Elliott Waves
If you're familiar with Elliott Wave theory, you know that the initial listing pump was likely just the start of the journey - Wave 1. After that, we saw a period of consolidation, a healthy pause for breath. Price held strong, building a solid foundation for the next move. We can interpret this consolidation phase as Wave 2, forming a flat correction (ABC).
Then, the real show began! Wave 3 kicked in, with the price making a powerful move towards its maximum target, projected by the 2.61 Fibonacci extension at $6.
Time for a Pit Stop?
Now, it's crucial to remember that corrections are part of the game. We anticipate a corrective Wave 4, potentially pulling the price back to around $3. But don't worry, this could be a buying opportunity!
After Wave 4, we expect a final push, Wave 5, with targets potentially exceeding $8. However, it's important to be vigilant. We'll be closely watching for a red dot on the Bullish/Bearish Reversal Bar Indicator . This signal will be our cue that a market reversal is imminent, and it's time to secure your profits.
Stay Tuned!
As always, our trading bots will be automatically triggered by the signals from the indicator. So, keep an eye on your Binance account for those sweet alerts!
Disclaimer: This is not financial advice. Always do your own research before making any investment decisions.
What do you think, Binance Fam? Is SUI ready to take off again, or is it time to book your profits? Share your thoughts in the comments below!
#SUI #Binance #Crypto #Trading #ElliottWaves