Bitcoin (BTC) recently rocketed past the historic $100K mark—but signs now point to a potential short-term correction before the next leg up. With BTC currently hovering around $102,500, traders are watching key levels closely!
Let’s break it down:
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📊 Chart Breakdown
The 4H chart reveals a complete 5-wave Elliott pattern, indicating that a correction may be on the horizon. Based on the chart:
✅ Wave 5 Top is in place near $104,000
📉 Correction Target is set around $90,000 — aligning with the 0.5 Fibonacci retracement level
⚠️ Bearish divergence is visible on the Awesome Oscillator — signaling weakening momentum
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🔍 Technical Snapshot
Current Price: $102,500
Support Zone: $90,000
Resistance Levels: $104,000 – $107,000 – $120,000
Momentum: Bearish divergence + overextended rally = high probability of short-term dip
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🎯 Trade Setup (Swing Strategy)
Entry Range: $102,000 – $103,000
Stop-Loss: $99,000
Take-Profit Targets:
1. TP1: $105,000
2. TP2: $107,000
3. TP3: $110,000
4. TP4: $115,000
5. TP5: $120,000
Tip: If BTC drops toward $90K, that may offer a fresh long opportunity after correction completes.
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🧠 What Traders Should Watch
🔄 If BTC confirms a move below $100K, expect dip-buying opportunities near $92K–$90K
📈 Long-term trend remains bullish as institutional inflows and ETF demand continue to support the price
🕵️♂️ Keep an eye on U.S. CPI data or any macro shocks that could accelerate the pullback or revive the rally
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📌 Final Thoughts
Bitcoin’s move may be pausing for breath after an incredible run. A dip to the $90K zone could be a healthy retest before the next major rally. If you're in for the long haul—this could be a golden reload zone!
Stay calm, plan your levels, and don’t let emotions trade your portfolio.
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Disclaimer: This content is for educational purposes only and not financial advice. Always DYOR before making investment decisions.
