While the consensus watches for a local bounce, this wave correction layout on $BTC points toward a deeper structural pull down to complete the corrective pattern.
After rejecting from the 4-hour supply zone near $80,000 , price has broken lower-timeframe support, trading down around $76,973 . The price structure marks a wave correction sequence (W-X-Y), where the failed retest at overhead supply confirms bear control for the next leg down.
Holding below the 4-hour supply ceiling near $80,000 keeps the corrective thesis intact, targeting lower wave completion around $74,000 . A solid recovery and daily close above $80,200 invalidates the corrective wave setup, reopening upside momentum.
Don't buy into incomplete corrective waves—wait for structural demand to confirm the final pivot point.
#BTC #Bitcoin #CryptoAnalysis #TechnicalAnalysis
After rejecting from the 4-hour supply zone near $80,000 , price has broken lower-timeframe support, trading down around $76,973 . The price structure marks a wave correction sequence (W-X-Y), where the failed retest at overhead supply confirms bear control for the next leg down.
Holding below the 4-hour supply ceiling near $80,000 keeps the corrective thesis intact, targeting lower wave completion around $74,000 . A solid recovery and daily close above $80,200 invalidates the corrective wave setup, reopening upside momentum.
Don't buy into incomplete corrective waves—wait for structural demand to confirm the final pivot point.
#BTC #Bitcoin #CryptoAnalysis #TechnicalAnalysis
