We are monitoring the potential for a Wolfe Wave pattern on #BTC . If the price rises to the 82,400–82,900 zone, a downward movement could begin from there.
The stop level for the pattern is a 4-hour candle close above 83,769; in that event, the pattern would be invalidated.
On the downside, the 75,545 level is the initial target. If the price drops below this, the decline could extend further. This drop would likely form the final shoulder of an inverse head-and-shoulders (H&S) structure; if the price then holds above 83,000, the pattern would activate, and a continued rise toward upper resistance levels would be expected.
If a daily or weekly close occurs above 82,885, it would mark the first higher peak relative to the most recent downward wave. This serves as a positive signal indicating that the upward trend is likely to continue.
The stop level for the pattern is a 4-hour candle close above 83,769; in that event, the pattern would be invalidated.
On the downside, the 75,545 level is the initial target. If the price drops below this, the decline could extend further. This drop would likely form the final shoulder of an inverse head-and-shoulders (H&S) structure; if the price then holds above 83,000, the pattern would activate, and a continued rise toward upper resistance levels would be expected.
If a daily or weekly close occurs above 82,885, it would mark the first higher peak relative to the most recent downward wave. This serves as a positive signal indicating that the upward trend is likely to continue.
