📊 Bitcoin ($BTC ) Market Update – August 11, 2025

Current Structure: Tracking a 4th wave pullback on the shorter time frame – two scenarios in play:

White Scenario (Directly Bullish): Currently in Wave 3 of 5 within a 1–2–1–2 structure. Wave 3 target: $123,600 (138% Fib extension). If confirmed, next step → Wave 5 of 3 → target $130,000.

Yellow Scenario (Deeper Pullback): Allows for retracement into $116K–$119K CME gap, with $115,800 as max support (61.8% retracement & prior swing low). Would still keep broader bullish outlook intact, but with delay.

Key Levels:

Upper Micro Support: $119,338 – break below likely sends BTC to $116K–$119K zone.

Lower Support: $115,800 – must hold for bullish bias to remain valid.

Immediate Resistance: $123,600 – ideal Wave 3 target.

Next Upside Objective: $130,000 if Wave 5 of 3 unfolds.

Decision Points:

Hold above $119,338 → Higher chance of direct rally towards $123.6K and $130K.

Break below $119,338 → Watch for test of $116K–$115.8K before potential bounce.

Market Context: Many altcoins (e.g., SOL, SUI) also working on Wave 4 patterns, aligning with the BTC white scenario’s bullish bias.

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