If the correction has played out (with price dipping to ~$93K) and we’re now back at $97,100, then according to Elliott Wave theory — Wave ((5)) has likely begun.
Wave structure so far: • Wave ((3)) ended around $97K • Wave ((4)) corrected to ~$93K (confirmed on structure) • BTC has returned to $97,100 — we may now be in Wave ((5)), with subwaves 1–2 completed
Current technical signals (4H): • RSI: ~63 — room to expand • EMA200: ~$93,500 — solid support • MACD: turning bullish, crossing up • Volume: moderate but steady
Trade setup (if breakout confirms): • Entry: $97,800–$97,900 (on 4H close + volume breakout above trendline) • Stop-loss: $95,800 (under EMA and Wave ((5)) base) • TP1: $100,000 • TP2: $104,800–105,300 • Leverage: 10–20x (if appropriate for your risk profile)
Important: Enter only if momentum confirms a clean breakout of the yellow trendline (above $97K). If price reverses from here and breaks below $96K — it could’ve been Wave B of a complex Wave 4, sending us back into accumulation.
Looks like it’s starting.
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