BTCUSD - 8H Analysis | Elliott Wave Perspective

🔹 Current Price: $96,216.97
🔹 Key Levels:
• Support: ~$91,220 (Wave 4 potential bottom)
• Resistance: ~$100,000 - $112,000 (Projected breakout target)

🔍 Elliott Wave Breakdown:
• The structure suggests we are in a complex correction before the next impulsive move.
• The pattern forming appears to be a contracting triangle (ABCDE) inside a larger Wave 4.
• If price respects the support trendline and completes Wave E, we could see a strong breakout upwards towards $112,000.
• A break below $91,220 would invalidate this structure and signal further downside.

📉 Key Observations:
• A completion of the triangle and breakout above Wave D resistance could trigger the next impulsive leg.
• If BTC holds this support structure, we might witness Wave 5 extension towards new highs.

📢 Conclusion:
We are in a critical zone! Monitoring how BTC reacts around the $91K-$100K range will be key in determining the next big move.

Do you think BTC will break out soon? Share your thoughts! 🚀