📉 *Bitcoin Nears Key Support Zone After Five-Wave Move*
BTC is approaching a crucial support zone after completing a classic *5-wave Elliott move* — a potential setup for either a *correction* or a *major continuation*.
🔍 *Here’s what’s happening:*
- BTC has shown 5 impulsive waves upward, signaling a potential *wave completion*.
- It’s now hovering near a *support zone* (~105K–107K), which could act as a *pivot area*.
- If *support holds*, we may enter a *wave 2 correction* (ABC structure), possibly pulling back to 100K–102K.
📈 *Bullish Scenario:*
If Bitcoin forms a *bull flag* or *falling wedge*, it could break out above 110K and ignite *wave 3*, which is typically the strongest move — potentially targeting130K+. 🚀
📉 *Bearish Scenario:*
If price breaks below the support with volume, BTC may fall toward the *98K–100K zone* before finding footing again.
📊 *Prediction:*
Short-term pullback is likely, but structure remains bullish unless key support breaks. *Watch closely for reversal patterns* and RSI resets for re-entry.
👀 Patience and chart watching are key right now.