$BTC ‌

Bitcoin appears to have started a corrective phase, which can be interpreted either as a wave 4 in the orange scenario or more likely as a wave 2 in the white count, especially if the pullback unfolds as a broader ABC structure. The market has found initial support at the lower boundary of the upward trend channel, from where a B-wave bounce could develop. The first resistance zone is located between $75,473 and $77,337.
As long as price remains below this region and any recovery unfolds as a 3-wave move, downside pressure remains intact and the structure continues to allow for a deeper correction. The key support level is $67,530