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While many anticipate local resistance consolidation, this primary Elliott Wave structure on $BTC is signaling a macro wave (5) impulse targeting $98,000 .
After completing a major corrective sequence into wave (5) lower, price broke out of the primary descending channel and initiated a new impulse wave count. The aggressive surge out of the sub-wave 4 bull flag completed sub-wave 5 of primary wave (3), currently trading around $84,567.41.
A healthy shallow retracement into wave (4) above dynamic trendline support around $79,000 maintains the bullish wave structure. Resolving into primary wave (5) unlocks higher targets at the horizontal resistance band between $98,000 and $103,000. A breakdown back inside the channel below $71,000 invalidates this impulsive wave count.
Don't trade against primary Elliott Wave impulses—respect macro trendline breakouts as wave (5) expansions unfold.
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