Bitcoin (BTC) Market Analysis – Short-Term Consolidation Underway
Bitcoin attempted a breakout from a triangle pattern on Friday but failed to sustain momentum, likely forming a B-wave correction. The move suggests short-term downward pressure remains, especially as the price stays below the $97,650 resistance.
Current Structure Insight:
The correction likely follows a flat pattern: A-B-C.
C-wave is unfolding with possible continuation via internal wave 3–4–5 structure.
Fibonacci extension targets show reaction at the 100% A-to-C projection.
Key Support Levels:
$96,366
$96,190
$95,899
Entry Zone: $96,300–$96,000
Stop Loss: Below $95,700
Target 1: $97,650
Target 2: $98,745 (only if bullish momentum resumes next week)
Bias: Short-term bearish, medium-term neutral until a decisive break above $97,650.
> This is a short-term scalping setup for experienced traders. Expect choppy weekend price action within support zones.