chart on the weekly timeframe, it’s time to dive deeper and break down the 1-day chart
▫️ We can see that price topped around 253.51 and started forming an impulsive bearish structure.
▪️ Currently, wave (ii) looks corrective before the continuation toward wave (iii), targeting the 161.8% Fibonacci extension zone around November 2025.
▫️ This analysis is based on Elliott Wave theory and Fibonacci projections, with the 190–200 area acting as a potential retest zone before the next strong move. Stay alert for confirmation signals
$BTC Daily Chart The overall structure continues to lean bullish on both the Daily and Weekly timeframes. Price has been respecting Fibonacci retracement levels and the marked support/resistance zones, which keeps my probabilities tilted toward upside continuation.
That said, there are levels to watch closely. A decisive close below $100k would begin to raise caution.
We still have the April CME Gap at $92k sitting below price, and while it could get tapped, my view is that this would only be concerning if price stalled down there. A quick move with a sharp V-shaped reversal would still fit inside a bullish framework, but extended time trading at those levels would start to look very bearish.
So far, BTC has wicked beneath the $105k support zone. I had been anticipating a correctional low forming somewhere between $100k and $105k, and that remains my base case.
From here, I am considering two outcomes: - The low may already be in, setting the stage for the next leg higher. - We could sweep the current low once more before this correction fully completes.
Either way, the broader trend remains intact, but these zones will be critical to monitor as we move forward.
ℹ️ A bullish MACD crossover is just around the corner! We’re only one step away from seeing the MACD moving averages cross to the upside — a signal that could mark the beginning of a long-awaited rally after years of stagnation. Altcoins have been trapped in a downtrend for nearly four years, but after reaching a major support zone, they’ve finally managed to break above the key resistance level. All that’s left is a final confirmation — and once that happens, capital will start flowing out of Bitcoin and into alts, setting the stage for a true altseason.