๐ $BTC STILL UNDER SELLING PRESSURE โ BUT THE STRUCTURE SAYS THIS IS A CORRECTION, NOT A TOP ๐
Where we stand:
๐ป$BTC
remains capped below the 50-week SMA (~$75,500) and below the red line โ former support now acting as resistance.
The daily chart picture:
๐ The rise from the July low is a clean 5-wave move โ meaning the current pullback is corrective within a larger recovery, not a trend reversal.
What needs to hold:
๐ก๏ธ Support zone: $63,326 โ $74,804
โ As long as this zone holds AND a first local impulse formsโฆ
๐ฏ Upside target: $100,000+
The key takeaway:
Waves don't lie โ but support does the talking. Bulls need to defend the zone and print that first impulse to flip the narrative. Until then, pressure remains. โ๏ธ
Are you buying the correction or waiting for confirmation? ๐
#BTC #Bitcoin #Crypto #TechnicalAnalysis #TA #CryptoTrading #BullRun #Web3
Where we stand:
๐ป$BTC
remains capped below the 50-week SMA (~$75,500) and below the red line โ former support now acting as resistance.
The daily chart picture:
๐ The rise from the July low is a clean 5-wave move โ meaning the current pullback is corrective within a larger recovery, not a trend reversal.
What needs to hold:
๐ก๏ธ Support zone: $63,326 โ $74,804
โ As long as this zone holds AND a first local impulse formsโฆ
๐ฏ Upside target: $100,000+
The key takeaway:
Waves don't lie โ but support does the talking. Bulls need to defend the zone and print that first impulse to flip the narrative. Until then, pressure remains. โ๏ธ
Are you buying the correction or waiting for confirmation? ๐
#BTC #Bitcoin #Crypto #TechnicalAnalysis #TA #CryptoTrading #BullRun #Web3
