Wave (4) Correction Completed? Wave (5) Imminent

Bitcoin appears to be completing an Elliott Wave structure, currently sitting around the (4) pullback area with signs of a potential continuation into wave (5) to new local highs. The recent LH and bounce from demand could mark the beginning of the impulsive move.

Key Observations:

✅ Elliott Waves Count (1–2–3–4–5) in Play

Wave (3) completed near ~$113K
Wave (4) correction retraced into the ~$98K support zone
Structure looks corrective (ABC style), typical for wave 4
Wave (5) projection aims towards ~$120K+ based on symmetry

✅ Market Structure

Higher High (HH) → Higher Low (HL) pattern intact
Price respected a key demand zone and bounced
Green dotted line shows potential consolidation → breakout behavior

✅ Support Zones

~$98K = key demand + previous HL
~$92K = macro structure support
Holding these levels = bullish continuation scenario likely

✅ Resistance Ahead

~$113K = recent local high
Break and close above this = wave (5) confirmed
Final TP area ~$120K–124K based on Fibonacci extensions and wave symmetry
🎯 Trade Plan (Idea)
Entry: On confirmation above $106K
Targets:

TP1: $113K (retest)
TP2: $120K
TP3: $124K