BTCUSD 1W UPDATE
π Bitcoin (BTC/USD) Weekly Elliott Wave Analysis
Current Trend: Bitcoin is in Wave 4 correction, testing key support on the ascending trendline.
Next Move: If support holds, BTC could rally into Wave 5, targeting 120K – 130K.
Post-Wave 5: A major correction could follow, potentially dropping BTC to 40K – 50K.
Key Levels:
Support: ~80K – 86K (must hold for bullish continuation).
Resistance: ~120K – 130K (potential Wave 5 target).
Trading Plan:
β
Look for bullish confirmation near support for a long setup.
β Break below support could invalidate the bullish structure.
