๐จ $BTC โ 1H ELLIOTT WAVE SHORT SETUP ๐จ
BTC is showing a potential 5-wave corrective structure on the 1H chart. Waves (1) โ (2) โ (3) โ (4) appear to be forming, with Wave (5) potentially targeting the lower support zone.
๐ Trade Setup: SHORT
Entry: $80,400 โ $80,800
โ Stop Loss: $83,850
๐ฏ TP1: $78,800
๐ฏ TP2: $77,200
๐ฏ TP3: $75,883
Why?
BTC is showing rejection around the $80.3Kโ$80.8K area. If this Elliott Wave count remains valid and Wave (4) is complete, Wave (5) could drive price toward the $75.8K support zone.
โ ๏ธ Invalidation: A strong 1H close above $83.8K invalidates this bearish wave scenario.
Plan: Watch the $80.2Kโ$80.8K rejection zone. Donโt chase the short if BTC breaks higher.
DYOR. Not financial advice.
BTC is showing a potential 5-wave corrective structure on the 1H chart. Waves (1) โ (2) โ (3) โ (4) appear to be forming, with Wave (5) potentially targeting the lower support zone.
๐ Trade Setup: SHORT
Entry: $80,400 โ $80,800
โ Stop Loss: $83,850
๐ฏ TP1: $78,800
๐ฏ TP2: $77,200
๐ฏ TP3: $75,883
Why?
BTC is showing rejection around the $80.3Kโ$80.8K area. If this Elliott Wave count remains valid and Wave (4) is complete, Wave (5) could drive price toward the $75.8K support zone.
โ ๏ธ Invalidation: A strong 1H close above $83.8K invalidates this bearish wave scenario.
Plan: Watch the $80.2Kโ$80.8K rejection zone. Donโt chase the short if BTC breaks higher.
DYOR. Not financial advice.
