#BTCUSDT Elliott Wave Analysis

The bounce you see is not the bottom. It is wave (iv) of the larger decline.

Many amateur traders look at this recovery from the 60k zone and think "Bitcoin has bottomed!" They rush in, excited about the bounce. But Elliott Wave structure tells a different story.

The current rally is corrective in nature. Wave (iv) is simply retracing part of the recent decline, exactly as expected in a 5-wave sequence. The 0.236 retracement at 63,962 and 0.382 at 67,146 are natural resistance zones for this correction.

Once wave (iv) completes, wave (v) will take Bitcoin significantly lower. The structure remains bearish until proven otherwise.

Don't let short-term bounces fool you into thinking the trend has changed. Wave (iv) corrections trap the impatient. Wait for the completion before considering any long positions.

The bigger picture remains clear: this is still a corrective cycle playing out.