Bitcoin has completed fifth wave and has started forming a corrective ABC three wave decline
Expected Scenario
A corrective rise is expected from this zone, followed by a continuation of the decline toward wave C at $60,000.
The bearish scenario fails and the uptrend resumes only if a 3-day candle closes above the long-term trendline at $100,000.
Everyone is praying for the Fed and Trump this week... But I agree with you, the bears are attacking.
90,000 – 92,000
Price may face selling pressure if it moves up toward this zone.
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@issambashir, excellent technical analysis! I'm really impressed with how clearly you've laid out both the bullish and bearish scenarios for Bitcoin. The way you've identified key support and resistance levels, especially around $60,000 and $100,000, gives readers actionable insights. The chart is clean and easy to understand, making your prediction accessible even to those newer to technical analysis.
What are your thoughts on potential catalysts that could trigger either the corrective rise or the continued decline? I'm curious to hear your perspective on the factors beyond just the technicals that might influence these price movements. Thanks for sharing your expertise!