BTC Updates:BTC is currently following a pattern that I previously discussed, and it has unfolded precisely as I predicted. It has returned to the previous range with Bullish Engulfing close on the daily chart and to confirm the Bullish bias it needs to reclaim the 50 EMA on Daily time frame. Check out my detailed analysis I posted yesterday.

Technically speaking, the market is so hard to trade at the moment. Upon conducting a technical analysis of Bitcoin using Elliott Wave theory and other indicators, I have observed three alternative Elliott wave counts on the daily timeframe. Among these, one scenario appears to be the most likely.
Based on my observations, BTC has completed three waves and is currently undergoing the fourth wave, which is taking the form of a falling wedge pattern. If this scenario unfolds as expected, there is a high probability that BTC will experience a drop to the 25200 level, or even further down to the golden pocket. From there, we can expect the beginning of the fifth wave.