🔵 Bitcoin BTCUSD Analysis – 1-Hour Timeframe H1$BTC
Bitcoin is trading near 82,356 after a strong downward move swept the liquidity below the 80,400 low. Price then began a corrective rebound.
📊 Elliott Wave Analysis:
The probable wave count indicates that the third downward wave ended near 80,400, while price is currently moving within the corrective fourth wave.
Potential targets for the fourth wave:
▪️ 82,794 — Fibonacci 0.382
▪️ 83,350–83,534 — Internal liquidity and the 50% level
▪️ 84,274 — Fibonacci 0.618 in the event of a deep correction
Price remaining below 83,900 supports the possibility of the fifth downward wave beginning toward:
🎯 81,700
🎯 80,400
🎯 80,000
🎯 79,490
However, an hourly close above 83,900 would weaken the current wave count and pave the way for a deeper correction toward 84,460, followed by the OTE zone.
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Bitcoin is trading near 82,356 after a strong downward move swept the liquidity below the 80,400 low. Price then began a corrective rebound.
📊 Elliott Wave Analysis:
The probable wave count indicates that the third downward wave ended near 80,400, while price is currently moving within the corrective fourth wave.
Potential targets for the fourth wave:
▪️ 82,794 — Fibonacci 0.382
▪️ 83,350–83,534 — Internal liquidity and the 50% level
▪️ 84,274 — Fibonacci 0.618 in the event of a deep correction
Price remaining below 83,900 supports the possibility of the fifth downward wave beginning toward:
🎯 81,700
🎯 80,400
🎯 80,000
🎯 79,490
However, an hourly close above 83,900 would weaken the current wave count and pave the way for a deeper correction toward 84,460, followed by the OTE zone.
━━━━━━━━━━━━━━