🔹 Bitcoin ($BTC ) – Key Technical Outlook 🔹

📍 Current Situation:

Pullback from recent swing high looks corrective — could be part of Wave 4 in Elliott Wave count

Alternative: Wave 4 already complete if recent drop was only a 3-wave move

Still holding above key support levels; no evidence of a major top

📉 Support Levels to Watch:

$117,900 – 100% Fibonacci extension target for C-wave

$117,400 – CME futures gap lower boundary

$117,000 – Key structural support

$116,400 – Secondary structural support

$115,800 – Next major support

$114,000 – Deeper pullback level if Wave 2 scenario plays out

📈 Short-Term Scenarios:

Primary (Yellow Count): BTC in Wave 4 (sideways/flat correction likely due to Elliott Wave alternation rule)

Alternative: Wave 4 complete; BTC preparing for next leg up

Possible B-wave bounce due soon — corrective in nature before another dip

⚠️ Macro Event Watch:

CPI data release today – expect heightened volatility and possible sharp intraday swings

Gap at $117.4K likely to close before sustained upside

Summary: BTC remains in a corrective pullback with key supports in play. Watch $117.4K–$117.9K for potential bounce zone; losing $114K opens deeper correction risk.

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