🚀 $BTC Market Update – August 9, 2025

Bitcoin remains in consolidation mode, with no major structural changes from yesterday. We may see a slightly extended B wave in the current bounce before the next move.

📊 Bigger Picture

August low likely marked the bottom of a deep Wave 4 (still valid, though unusually deep).

Drop to the August low was corrective (3 waves), not impulsive a bullish sign.

Price found strong support at May’s previous all-time high and bounced.

🔍 Current Structure

Initial rally showed signs of a 5-wave move, but recent action looks messy.

Likely in a diagonal pattern for Wave 5, aiming to complete the next leg up.

Short-term: Watching if we get a clear 5-wave push higher or if this is only Wave 1 of a larger move.

📉 Support & Resistance

Key support zone is intact — market avoiding breaks below lower trendline (sign of strength).

Immediate resistance: 117,518 → A decisive break above could send BTC directly higher.

⚠️ Possible Scenarios

If Wave B extends: Short-term push higher toward 78.6%–88.7% retracement zone.

If breakdown occurs: Wave C down could begin, extending Wave 4.

Overall trend: Still upward bias, but consolidation may continue through the weekend.

🎯 Key Level to Watch:

Trendline support — holding keeps the bullish case alive.

Above 117,518 = likely direct continuation upward.

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