Before the analysis, feel free to follow me on Instagram for specific questions or additional insights and analyses. https://www.instagram.com/k.waveanalytics/ BTCUSD Analysis – Wave 4 with Key Levels and Scenarios In the current market structure of BTCUSD, we are in the overall Wave 4, which, based on my analysis, is developing as a Double Zigzag or potentially a Triple Zigzag pattern. The previous strong sell-off formed a clear 5-wave structure, marking the completion of Wave W. The market is now moving into Wave X, which also appears to be forming as a Zigzag, as the initial rally of X shows a 5-wave structure. Key Levels and Market Structure Current Level: 95,028.36 USD The price is currently testing the 61.8% Fibonacci retracement, traditionally considered a pivotal level for the continuation of a corrective move. From here, Wave X could push higher toward 102,966.84 USD. Primary Target: 102,966.84 USD This level also represents the 61.8% retracement of Wave X, making it a critical resistance area. Reaching this zone would signal the likely completion of Wave X and the transition into Wave Y. Alternative Scenario: Retrace to 76.4% Fibonacci (around 93,500 USD) If the market tests the 76.4% Fibonacci level, it would indicate a more complex corrective structure for Wave X. This could lead to extended sideways movement or deeper pullbacks before the next upward push. Expected Sell-off After the Rally: Should the market reach the target of 102,966.84 USD, a strong downward move is likely to follow. This decline is expected to take BTCUSD into the range of 90,000 to 88,000 USD, aligning with the 38.2% retracement of the larger move. This zone will serve as the next critical support level for a potential reversal. Strategic Considerations and Risk Management Traders should monitor the mentioned key levels—95,028 USD, 102,966 USD, and 88,000–90,000 USD—for significant price reactions. The price dynamics in these zones could provide critical insights into the market's next direction. If the market revisits the 76.4% retracement (around 93,500 USD), consider adjusting position sizes and stop-losses due to the expected increase in volatility. Disclaimer: This is not financial advice, just my personal opinion.
Yes of Corse. If we reach the target level of 102-104k, a strong sell-off is expected, which all experts predict for Q1 on 2025.
Totally agree. What are you thinking about the things in Q2 on 2025 or what will be the year like for BTC?