📉 Bitcoin Weekend Update: Triangle Still in Play as Key Support Holds
Bitcoin has shown a bit of movement this Sunday a small dip on relatively low volume. While some may interpret this as a bearish signal, the broader market structure remains intact. In fact, nothing technically significant has broken, and no major wave count changes are required at this stage. 🔍 What Happened Today? The move we saw today appears to be a small-volume weekend dump, possibly even a minor bear trap. These kinds of moves are common on Sundays, when liquidity is thin and nano-structure often shifts quickly. Importantly: No impulsive move to the downside has occurredKey support levels are still respectedThe broader consolidation remains intact 🔺 Triangle Structure: Still Valid (But Low Probability)
The triangle scenario we are tracking is still technically valid, although it remains a low-probability structure. > Triangles are among the least reliable Elliott Wave patterns, especially on lower timeframes. What’s important to understand: The triangle is best seen as a snapshot in timeIt could easily morph into a more complex B-waveMinor changes in the micro or nano structure are to be expected Educational Note 🧠 In Elliott Wave theory: An E-wave must not break below the C-wave low A high B-wave is allowed (similar to flat corrections) This means an upside breakout remains possible 📌 Key takeaway: Labels are not trade setups. Trade setups come from 1–2 structures or clear ABC patterns, not from triangles alone. 📊 Where Support Really Matters Despite short-term noise, support remains unchanged and respected. 🔸 Key Support Zone (Fibonacci Retracement Area) 86,027 – 88,937 This zone has been tested multiple times: December 5 Sunday, December 7 Again today Each time, price has reacted positively, confirming the importance of this area. 📐 Fibonacci Reactions Observed Multiple reactions at 50% retracement Clear respect of the 61.8% retracement This tells us that the market is still respecting technical levels, even in low-volume conditions. The orange Fibonacci support box (86,027–88,937) Multiple price reactions at 50% and 61.8% Dates of previous tests clearly marked 🚧 Resistance Levels to Watch Until resistance breaks, there is no confirmation that a low is in. Key Levels: ~90,750 → Short-term swing high from Saturday 94,650 → Major December swing high (December 9) Thursday’s high (Dec 11) → Critical level for trend confirmation 🧭 Big Picture: Sideways Consolidation At the moment, Bitcoin remains in a sideways consolidation phase. When price action slows down like this, it’s often the best time to focus on education and structure, rather than chasing trades. There is: No impulsive downside move No confirmed upside breakout No reason to panic — or to force trades