Bitcoin Trend Reversal – Elliott Wave in Play
Hello traders,
Today we look at a fresh scenario for BTC as price has broken decisively below a major support zone, showing clear short-side strength. This could mark the beginning of a medium-term downtrend, signalling a shift in market structure.
The 112k level has been fully taken out after two strong rejections earlier, and now the market looks ready to seek lower levels, potentially targeting 97k–98k based on Fibonacci Extension.
From an Elliott Wave perspective, BTC is currently in wave 3 of the down cycle, and has not yet reached the reaction point for wave 4. I expect the 105k zone to act as support for this leg down. From there, price could bounce into wave 4 before completing wave 5 lower towards 97k, or even 95k. This would provide a solid area to plan medium-term long entries afterwards.
The MACD also supports the bearish view, with both volume and moving averages trending below, signalling strong downside momentum.
I’ve marked the key price levels on the chart for clarity. Please use this scenario as reference and manage risk carefully with your trades.
What’s your outlook for BTC here? Share your thoughts in the comments so we can discuss together.
Hello traders,
Today we look at a fresh scenario for BTC as price has broken decisively below a major support zone, showing clear short-side strength. This could mark the beginning of a medium-term downtrend, signalling a shift in market structure.
The 112k level has been fully taken out after two strong rejections earlier, and now the market looks ready to seek lower levels, potentially targeting 97k–98k based on Fibonacci Extension.
From an Elliott Wave perspective, BTC is currently in wave 3 of the down cycle, and has not yet reached the reaction point for wave 4. I expect the 105k zone to act as support for this leg down. From there, price could bounce into wave 4 before completing wave 5 lower towards 97k, or even 95k. This would provide a solid area to plan medium-term long entries afterwards.
The MACD also supports the bearish view, with both volume and moving averages trending below, signalling strong downside momentum.
I’ve marked the key price levels on the chart for clarity. Please use this scenario as reference and manage risk carefully with your trades.
What’s your outlook for BTC here? Share your thoughts in the comments so we can discuss together.
🔥 BrianLionCapital – Where Top Traders Unite
✅ Accurate signals & exclusive analysis: 10–15 signals daily with continuous market insights
⏳ Every minute you hesitate is a winning opportunity slipping away!
t.me/+PNA9TDWpr_80ZGQ1
✅ Accurate signals & exclusive analysis: 10–15 signals daily with continuous market insights
⏳ Every minute you hesitate is a winning opportunity slipping away!
t.me/+PNA9TDWpr_80ZGQ1
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🔥 BrianLionCapital – Where Top Traders Unite
✅ Accurate signals & exclusive analysis: 10–15 signals daily with continuous market insights
⏳ Every minute you hesitate is a winning opportunity slipping away!
t.me/+PNA9TDWpr_80ZGQ1
✅ Accurate signals & exclusive analysis: 10–15 signals daily with continuous market insights
⏳ Every minute you hesitate is a winning opportunity slipping away!
t.me/+PNA9TDWpr_80ZGQ1
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.