Bitcoin has completed a strong impulsive leg, with the third wave pushing sharply higher on strong volume. After this extension, the market is now showing early signs of exhaustion.
📈 Wave Count
Wave (3) peaked with a strong vertical move.
Price is now likely transitioning into wave (4), a corrective phase.
If confirmed, a retracement toward lower support zones is expected.
🔻 Key Levels to Watch
First correction target: 111,200 – 110,800 zone (supply turned support).
Deeper correction target: around 109,800.
These levels align with prior consolidation and Fibonacci retracements.
💡 Short Setup
Traders can consider short entries if bearish confirmation appears.
Watch for signals such as:
Rejection wicks at the highs
Engulfing bearish candles
Momentum breakdown on lower timeframes
Stop-loss: above recent peak (~112,200).
Profit targets: 111,200 first, then 109,800 if pressure extends.
⚡ Alternative Scenario
If buyers regain momentum, BTC could push for a final wave (5) extension before any larger correction. However, probability currently favors a pullback.
✅ Conclusion
BTC/USDT is entering a potential corrective stage after completing its third impulsive wave.
The 111,200 – 110,800 zone is the first area to test, while 109,800 stands as a deeper downside target.
Short setups are valid with confirmation, but strict risk management is essential. 📊
📈 Wave Count
Wave (3) peaked with a strong vertical move.
Price is now likely transitioning into wave (4), a corrective phase.
If confirmed, a retracement toward lower support zones is expected.
🔻 Key Levels to Watch
First correction target: 111,200 – 110,800 zone (supply turned support).
Deeper correction target: around 109,800.
These levels align with prior consolidation and Fibonacci retracements.
💡 Short Setup
Traders can consider short entries if bearish confirmation appears.
Watch for signals such as:
Rejection wicks at the highs
Engulfing bearish candles
Momentum breakdown on lower timeframes
Stop-loss: above recent peak (~112,200).
Profit targets: 111,200 first, then 109,800 if pressure extends.
⚡ Alternative Scenario
If buyers regain momentum, BTC could push for a final wave (5) extension before any larger correction. However, probability currently favors a pullback.
✅ Conclusion
BTC/USDT is entering a potential corrective stage after completing its third impulsive wave.
The 111,200 – 110,800 zone is the first area to test, while 109,800 stands as a deeper downside target.
Short setups are valid with confirmation, but strict risk management is essential. 📊
Trade closed: target reached
💼 Professional market insights & charts:
cakirinsights.com/
cakirinsights.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
💼 Professional market insights & charts:
cakirinsights.com/
cakirinsights.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.