Bitcoin appears to be entering a complex corrective phase where the internal structure suggests significant remaining downside potential. Here is my detailed market reading:
Technical Context: A "5-3-5"
Corrective Structure My analysis is based on the following breakdown: Phase A (Bearish Impulse): An initial 5-wave sequence (decomposed here into a complex WXYXZ cycle), marking the end of euphoria and a shift in structure.
Phase B (Corrective Bounce): 3-waverelief move (WXY), testing key resistances without invalidating the underlying bearish trend.
Phase C (Final Wave): We are potentially starting a new 5-wave bearish sequence (aiming for another WXYXZ structure). This phase aims to purge the market and hunt for liquidity in much lower zones.
🎯Targets and Zones of Interest Target
levels are mapped using Fibonacci extensions and historical support zones. The market must confirm a break of the recent local lows to validate this final capitulation scenario. Note: As long as identified resistance zones are not reclaimed on a weekly close, the bias remains strictly Bearish.
💥TradingPhilosophy
Patience is your best ally: Do not force entries.
Discipline is your shield: Respect your stop-losses and your initial plan. The market gives nothing for free; it rewards those who wait for the perfect signal.
