Wave Theory Interpretation:

Based on the daily chart of May 15, 2025, combined with the structure and time cycles of Elliott Wave Theory, since the small-scale top signal appeared on May 12, the market has entered the corrective phase of the sub-wave within the blue primary upward wave. This corrective wave is currently still operating within the sub-wave structure of the third wave. If it does not break the previous support of 97787, the overall structure will maintain the high-level oscillation in the original trend, representing a typical platform consolidation within the impulse wave. Structurally, it is likely forming an a-b-c pattern within the fourth wave, where the green dashed line at 99598 serves as a key short-term support point. If it is not broken within three days, a 'failed fourth wave' may occur, directly leading to the extension of the final fifth wave, leveraging momentum inertia to impact the ultimate target range of 125000. Considering the current wave form has dual symmetry in time and price, if it remains strong before May 19, it is expected to form an extension wave at the golden ratio of 1.618 times, pushing the market into the final stage of the primary upward phase. Under the premise of trend continuation, any rapid pullback that does not break the blue dashed line at 97787 should be viewed as technical washing before the initiation of the fifth wave. $BTC