$BTC

📊 Bitcoin (BTC) Analysis According to Elliott Waves

🔹 Current Situation:

• The price is maintaining a 23.6% Fibonacci retracement near $113,000.

• The decline can be considered a completed WXY correction, indicating that local selling pressure has eased.

• The short-term support area is between $113,000 – $112,000.

🔸 Expected Scenario:

• A decisive breakout above $115,950 will be the first signal of a bottom formation, opening the way towards the resistance area of $116,937 – $121,657.

• The current upward movement may represent the beginning of the B wave within the larger correction (wave 4), but low trading volume weakens the confirmation.

• If no breakout occurs, the possibility of direct decline remains, but it will not turn into a broad bearish scenario unless a clear impulsive structure of 5 descending waves appears.

⚖️ Summary:

• Important short-term support: $113,000 – $112,000 ✅.

• First confirmation of upward movement: breakout at $115,950 🔑.

• General trend: correction within wave 4 with monitoring of the possibility of a B-wave rebound.