$BTC Has Been Trapped for 8 Days — Is the Range Finally About to Break?
Bitcoin has been trading between its Support and Resistance Zones for the past eight days, creating a difficult range-bound market with no clear directional trend.
BTC is now testing an important support confluence formed by the Support Zone, Support Lines, and the Cumulative Long Liquidation Leverage at $82,140–$83,000.
From an Elliott Wave perspective, Bitcoin appears to be completing Primary Wave 4, potentially through a Triple Three Correction (W-X-Y-X-Z).
I expect BTC to potentially start another bullish move from the current structure and the key $83,540 trading level.
A confirmed breakout above $84,100 could open the way toward the Cumulative Short Liquidation Leverage at $84,390–$85,000.
If buyers successfully break through this liquidity zone and the upper Resistance Zone, Bitcoin could finally escape the eight-day range and extend toward higher targets.
Trade Setup
First TP: $84,819
Second TP: $85,430
Third TP: $87,180
Stop Loss: $82,400
Key Levels: $83,540 | $84,100
Long Liquidation: $82,140–$83,000
Short Liquidation: $84,390–$85,000
Upper CME Gap: $87,700–$87,825
Which level will Bitcoin reach first?
🟢 $87,180
🔴 $82,400
#bitcoin
Bitcoin has been trading between its Support and Resistance Zones for the past eight days, creating a difficult range-bound market with no clear directional trend.
BTC is now testing an important support confluence formed by the Support Zone, Support Lines, and the Cumulative Long Liquidation Leverage at $82,140–$83,000.
From an Elliott Wave perspective, Bitcoin appears to be completing Primary Wave 4, potentially through a Triple Three Correction (W-X-Y-X-Z).
I expect BTC to potentially start another bullish move from the current structure and the key $83,540 trading level.
A confirmed breakout above $84,100 could open the way toward the Cumulative Short Liquidation Leverage at $84,390–$85,000.
If buyers successfully break through this liquidity zone and the upper Resistance Zone, Bitcoin could finally escape the eight-day range and extend toward higher targets.
Trade Setup
First TP: $84,819
Second TP: $85,430
Third TP: $87,180
Stop Loss: $82,400
Key Levels: $83,540 | $84,100
Long Liquidation: $82,140–$83,000
Short Liquidation: $84,390–$85,000
Upper CME Gap: $87,700–$87,825
Which level will Bitcoin reach first?
🟢 $87,180
🔴 $82,400
#bitcoin
