BTSUSDT : Setup for next short Trade

BTCUSDT :
Based on the current Elliott Wave structure and Fibonacci retracement analysis, Bitcoin (BTC) appears poised for a corrective move toward key Fibonacci levels of 1.618 and 2.618 minor retracements . The recent impulsive wave (likely Wave 3 or Wave 5) suggests that BTC has completed a strong upward momentum phase, which often precedes a corrective period. According to Elliott Wave Theory, corrections typically retrace a significant portion of the preceding impulse wave, with Fibonacci extensions acting as potential targets. In this case, the 1.618 Fibonacci extension represents the first major support level where BTC could stabilize during its correction, while the deeper 2.618 retracement may act as a secondary target if selling pressure intensifies. Traders should monitor these levels closely, as they are likely to serve as zones of consolidation or reversal, depending on market sentiment and broader macroeconomic factors. Additionally, confirmation from volume patterns and technical indicators like RSI or MACD will be critical in determining whether BTC establishes a new base at these levels or continues its downward trajectory.

this analysis is based on the last major analysis :