Elliott Wave Theory Spotlight: Bitcoin’s Wave 5 in Motion
$BTC BTC is currently unfolding a classic 5-wave Elliott Wave pattern, a powerful tool used by traders to forecast market movements by analyzing crowd psychology in price waves.
Here’s what we’re seeing:
Wave (1)–(4) has already played out.
Wave (5) appears to be forming, with Fibonacci extensions guiding potential price targets.
Projected Levels (Wave 5 - Downtrend Targets):
0.618 Fib = $93,478 – minor support zone.
1.0 Fib = $92,603 – standard wave length match.
1.618 Fib = $91,187 – extended wave scenario, often hit in stronger trends.
Elliott Wave helps traders anticipate continuation or reversal points. If BTC respects these levels, it could set up for a corrective bounce or even a trend shift.
Stay alert, respect the waves, and manage risk.#BitcoinReserveDeadline
