$BTC Is Up 2% — But Is This Rally Running Out of Fuel?
Bitcoin started the new week with a 2%+ bullish move, but there is one important warning: the recovery has developed with relatively low trading volume.
BTC also remains inside an Expanding Ending Diagonal, which from a classical technical perspective resembles an Ascending Broadening Wedge.
From an Elliott Wave perspective, Bitcoin appears to have completed Primary Wave 5 through this Ending Diagonal — a structure that can develop near the final stage of an uptrend.
As long as BTC remains inside this pattern, the risk of another bearish move remains elevated.
I expect Bitcoin to potentially move back below the $84,940–$85,460 Support Zone.
A confirmed breakdown could push BTC toward $84,600 first.
If bearish momentum strengthens and Bitcoin loses both the lower trendlines and the crucial $84,000 level, the correction could extend toward the lower CME Gaps and eventually the Cumulative Long Liquidation Leverage at $82,000–$83,550.
Trade Setup
First TP: $84,700
Second TP: $84,170
Third TP: $83,360
Stop Loss: $87,300
Key Levels: $84,000 | $84,600 | $86,450
Short Liquidation: $87,100–$88,400
Major PRZ: $88,760–$91,870
Long Liquidation: $82,000–$83,550
Which level will Bitcoin reach first?
🔴 $83,360
🟢 $87,300
#bitcoin
Bitcoin started the new week with a 2%+ bullish move, but there is one important warning: the recovery has developed with relatively low trading volume.
BTC also remains inside an Expanding Ending Diagonal, which from a classical technical perspective resembles an Ascending Broadening Wedge.
From an Elliott Wave perspective, Bitcoin appears to have completed Primary Wave 5 through this Ending Diagonal — a structure that can develop near the final stage of an uptrend.
As long as BTC remains inside this pattern, the risk of another bearish move remains elevated.
I expect Bitcoin to potentially move back below the $84,940–$85,460 Support Zone.
A confirmed breakdown could push BTC toward $84,600 first.
If bearish momentum strengthens and Bitcoin loses both the lower trendlines and the crucial $84,000 level, the correction could extend toward the lower CME Gaps and eventually the Cumulative Long Liquidation Leverage at $82,000–$83,550.
Trade Setup
First TP: $84,700
Second TP: $84,170
Third TP: $83,360
Stop Loss: $87,300
Key Levels: $84,000 | $84,600 | $86,450
Short Liquidation: $87,100–$88,400
Major PRZ: $88,760–$91,870
Long Liquidation: $82,000–$83,550
Which level will Bitcoin reach first?
🔴 $83,360
🟢 $87,300
#bitcoin
