I see a potential scenario where Bitcoin could move higher in Wave iii of Wave 5. If this pattern holds, Wave 5 would extend. For confirmation, we need to see the price break above 93K. However, if Wave ii ended at 76,642, there’s a chance we’re witnessing a 1-2, 1-2 setup that could push through this level. A strong follow-through would open the door for a move to at least 130K, equal to the length of Wave i, or possibly a 1.618 extension to 162K—roughly doubling from current levels.
Despite the broader bearish sentiment, this setup can't be ignored, as our priority is profit. If the price confirms, I’ll post a video update soon. Key support stands at 79,959, with critical support at 76,642.
Despite the broader bearish sentiment, this setup can't be ignored, as our priority is profit. If the price confirms, I’ll post a video update soon. Key support stands at 79,959, with critical support at 76,642.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.