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Bitcoin Outlook 📊
My current Elliott Wave interpretation is that the decline from $126K to around $58K completed a five-wave impulsive move.
If that count is correct, the market may now be entering an ABC corrective structure rather than starting a new bull trend immediately.
• Wave A: $126K → $58K
• Wave B: Current relief rally
• Wave C: Potential final leg lower
At this stage, I'm more interested in measuring the potential of Wave B than trying to predict the exact bottom.
If the rally continues, I'll be watching key resistance levels closely for confirmation or invalidation of this scenario.
As always, this is just one possible roadmap—not a prediction. Risk management matters more than being right.
#Bitcoin #BTC #Crypto #ElliottWave #TechnicalAnalysis