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...Wave 3 Complete: Strong Bullish Move
Gold has completed Wave 3 with a powerful bullish impulse, marking a key high in the Elliott Wave cycle.
Wave 4 Pullback: Correction Expected
A Wave 4 retracement is likely, targeting the 2,200 - 2,300 support zone before the trend resumes.
Wave 5 Rally: New Highs Ahead?
Once support is found, Wave 5 could push Gold beyond 3,200, signaling another strong bullish phase.
Trading Insights
Wait for Wave 4 completion before entering. Look for buy signals in the 2,300 - 2,400 range. Use Fibonacci levels and price action for confirmation.
Final Thoughts
Elliott Wave patterns evolve with price action. If Wave 4 plays out as expected, it could be a great buying opportunity. Stay prepared! 
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BTCUSD 1W UPDATE 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... - 06/03/2025in Market Insights, Synthetic Indices
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