🚀 Bitcoin Technical Analysis Update (Weekly) 🚀📊 Monthly Chart Insights:- 📈 A neutral triangle formation initiated from this year's peak.
- 📉 June's significant sell-off reinforces this scenario.
- 🔵 Monthly structure projection overlays onto the weekly chart with a blue-dashed line.🔍 Key Observations:- 🕵️♂️ Applying the "middle marking" concept, noting the subdued activity of wave-a.
- 🔺 A neutral triangle appears to have developed since this year's high.📅 Predictions for the Upcoming Weeks:- ⏳ Bitcoin is anticipated to continue descending over the next 1-2-3 weeks.
- 📉 Eventually, it could breach below the $50,000 mark.
- 🔄 Given wave-b retraces much of wave-a, wave-d should ideally retrace less than 61.8% of C.
- 🔽 Subsequently, wave-E targets around $40,000.Stay informed and trade wisely! 📉💡---#BTC #Bitcoin