#BTCUSDT Elliott Wave Analysis
The bounce did exactly what Wave (iv) corrections are supposed to do. It retraced to the 0.382 ($67,146.78), tapped the invalidation zone at $67,292.15, and got
The bounce did exactly what Wave (iv) corrections are supposed to do. It retraced to the 0.382 ($67,146.78), tapped the invalidation zone at $67,292.15, and got rejected.
That is not a reversal. That is a correction completing right where the structure demanded.
We flagged this level in our previous analysis (https://s3.tradingview.com/snapshots/u/UzjczopT.png). The market listened.
Wave (v) of (iii) is the next read. The larger bearish structure from the highs above $82,000 remains fully intact. Every corrective bounce in this move has been an opportunity for sellers who understood the bigger picture.
Price at $63,944 is already below the rejection zone. The structure is not asking for confirmation anymore. It is delivering.
📍 Invalidation: $67,292.15
📍 0.382 resistance: $67,146.78
Above $67,292 and the count needs a rethink. Below it, the bears remain in control.
Don't let the bounce fool you. Wave 4s are designed to shake confidence in the trend, then resume it. This one did its job. Now so does Wave 5. 📉
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Elliott Wave analysis involves subjective interpretation. Always do your own research and manage your risk accordingly.
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