$BTC continues to move inside its wedge pattern, and while we’ve seen an important low complete in the wave count, the big question remains: Has Bitcoin truly bottomed?

Let’s break it down.

🔹 Wave Count Update

We now have a technically complete WXY correction.

In this structure, we can see:

Wave W

X wave

Y wave in an ABC format (which includes 1-2-3-4-5 moves).

➡️ While this gives us a complete wave count, WXY structures are complex and less common than simple ABC corrections. That means further downside cannot be ruled out.

🔹 Support Levels & Local Low

We are now testing strong support:

Previous swing lows from early August.

Fibonacci support at around 113K (23.6% retracement).

This makes the chances of a bounce fairly strong. Many altcoins also suggest that a local low may be forming.

But — we don’t yet have confirmation. We still need upside momentum.

🔹 Key Reversal Signals to Watch

1. Break above yellow trendline (~114,700).

2. Move towards 115,950 resistance zone.

3. Larger Fibonacci resistance area above — a major test zone.

Without these, the green candles we’ve seen remain inconclusive.