$BTC holding strong but here's the uncomfortable truth:
Wave 1 peak might've been 87.4k, not 90k. Two out of three Elliott Wave targets already hit (inverse 1.618 → 87k, wave 5=wave 1 → 82k). Only the 0.618 extension missed at 90k.
If Wave 1 topped, Wave 2 is going to be brutal. Not a dip. A full-on sentiment nuke. Everyone screaming bear market is back. Classic Wave 2 psychology amplified by late breakout chasers who bought the top.
21-week EMA at 74k. 200-day SMA at 71k. Both rising buthistorically one gets tested before the next leg up.
Not saying we dump tomorrow but the setup is there. Wave 2 corrections don't feel like corrections they feel like the end of the world. That's the point.
Watch those EMAs. If we're going lower, that's where the real bid comes in.
Wave 1 peak might've been 87.4k, not 90k. Two out of three Elliott Wave targets already hit (inverse 1.618 → 87k, wave 5=wave 1 → 82k). Only the 0.618 extension missed at 90k.
If Wave 1 topped, Wave 2 is going to be brutal. Not a dip. A full-on sentiment nuke. Everyone screaming bear market is back. Classic Wave 2 psychology amplified by late breakout chasers who bought the top.
21-week EMA at 74k. 200-day SMA at 71k. Both rising buthistorically one gets tested before the next leg up.
Not saying we dump tomorrow but the setup is there. Wave 2 corrections don't feel like corrections they feel like the end of the world. That's the point.
Watch those EMAs. If we're going lower, that's where the real bid comes in.