🕒 Daily Time Frame Overview

Bitcoin has shown a strong recovery from Friday’s crash low. Depending on the exchange, the actual low varies slightly:

Binance: $107,550

Coinbase: $107,090

My chart: around $105,120

While these differences might seem minor, for some altcoins, the discrepancy between exchanges is massive — making technical analysis more complex.

🌀 Elliott Wave Perspective: Wave 4 Flat Correction

From an Elliott Wave standpoint, this structure still fits a Wave 4 expanded flat scenario.

We can label it as:

A-wave: the initial drop

B-wave: the recovery

C-wave: the recent decline into support

The C-wave landed in the standard target area between $105,170 and $99,400, forming a double bottom on some exchanges — a valid flat correction setup.

📈 Resistance & Support Zones to Watch

The current resistance zone lies between $114,212 and $121,934 — already being tested.

If Bitcoin pushes higher, it could signal that Wave 4 has completed.

However, if this move up forms only three waves, a final C-wave down remains possible (orange count scenario).

Key Levels:

Immediate Support: $113,569

Major Resistance: $117,300 → $119,480

Upper Resistance Range: $121,934

⚙️ Scenario Analysis

1️⃣ White Count (Primary Bullish Scenario):

Wave 4 may have already completed. If Bitcoin holds current support and forms a 5-wave micro impulse up, the next target could extend beyond $120K.

2️⃣ Orange Count (Corrective Scenario):

The ongoing move could still be a B-wave, leading to a deeper C-wave correction before setting up a potential 1–2 bullish structure for the next cycle leg.