BTCUSD hit projected target area for wave III and it's now turning down after the BTC spot ETF approval, ideally within a higher degree wave IV correction before the uptrend for wave V resumes. Looking at the 4-hour chart, we are tracking a three-wave A-B-C corrective setback that can retest 40k-38k support area, so after wave B recovery, watch out for more weakness within wave C.
Note
After a completed projected A-B-C correction in wave IV, BTC has nicely extended higher within wave V and there can be space up to 70k area or higher.
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