🔹 “This is Bitcoin on the 1-Month chart. What we see here is a completed 5-wave impulse according to Elliott Wave Theory.”
🔹 “Wave (1) through (5) is now complete, and the price has hit the upper boundary of a long-term ascending channel.”
🔹 “Notice this red zone? This is a strong resistance area between $76K and $111K. We might be forming a potential double top pattern here.”
🔹 “Divergence is likely forming in wave 5 — a classic sign of weakening momentum.”
🔹 “If we break below $66K and then $53K, expect a drop all the way to the $31K zone.”
🔹 “This level aligns with the bottom of the channel and possibly the 0.618 Fibonacci retracement.”
🔹 “Final target? $31,000 – a key zone for accumulation before the next major cycle.”
🔹 “Wave (1) through (5) is now complete, and the price has hit the upper boundary of a long-term ascending channel.”
🔹 “Notice this red zone? This is a strong resistance area between $76K and $111K. We might be forming a potential double top pattern here.”
🔹 “Divergence is likely forming in wave 5 — a classic sign of weakening momentum.”
🔹 “If we break below $66K and then $53K, expect a drop all the way to the $31K zone.”
🔹 “This level aligns with the bottom of the channel and possibly the 0.618 Fibonacci retracement.”
🔹 “Final target? $31,000 – a key zone for accumulation before the next major cycle.”
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