Analysis$BTC : A technical read suggests further correction

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🧩 Elliott Wave read

It seems that the bearish correction wave has not finished yet, which points to the possibility of continued selling pressure within the broader timeframe.

The upward B-wave from the most recent bottom has a corrective character rather than a reversal one, which strengthens the thesis of the continued bearish structure.

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📊 Momentum indicators

A slight additional rise in prices may push the Relative Strength Index (RSI) into overbought zones, increasing the likelihood of another bearish pullback.

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📅 Alignment with the quarterly cycle

The expected drop in Q4 matches the historical cyclical timing of #Bitcoin، , where markets tend to record corrections during the same period in previous cycles.

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📉 PSI indicator read

The current downward move is in clear alignment with the elevated-risk reading of the PSI indicator, reinforcing a cautious medium-term outlook.

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🎯 Summary

Key signals
Incomplete Elliott structure correction
Wave B is corrective in nature
RSI is close to overbought
Quarterly cycle Q4 is set for a decline
PSI indicates elevated risk

Overall bias: Cautious, with a higher likelihood of the bearish correction continuing before any real bullish reversal.

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