Bitcoin Lost Momentum Near PRZ — Is a Deeper Drop Coming?

May 4

Over the weekend, Bitcoin(BTCUSDT) extended its bullish run from last week, gaining over +3% and climbing close to the resistance lines and the Potential Reversal Zone(PRZ)[$81,350-$80,650]. However, with the start of the new week—especially as tensions escalated in the Middle East—Bitcoin, like the S&P 500(SPX500) and Gold(XAUUSD), suddenly reversed downward. It is now trading below the Resistance zone ($79,490-$78,750) and is breaking support lines.

From an Elliott Wave perspective, it seems Bitcoin’s five-wave upward impulse is complete, and we can expect at least a short-term correction.

Also, we can see a negative Regular Divergence(RD-) between two consecutive peaks.

I expect that in the coming hours, after breaking these support lines, Bitcoin will fill the New CME gap($78,545-$78,220) and drop at least to the Cumulative Long Liquidation Leverage($77,740-$76,790).

First Target: Cumulative Long Liquidation Leverage($77,740-$76,790)

Second Target: $75,823

Stop Loss: $80,700(Worst)

Cumulative Short Liquidation Leverage: $81,630-$80,800

CME gap: $84,560-$81,015

What’s your view on Bitcoin? Can it push back above $80,000, or should we expect further downside?

Note: Tensions between Iran and the U.S. have escalated in recent hours. News surrounding these events can rapidly impact Bitcoin and other assets. So, manage your risk even more carefully.

💡 Please respect each other's opinions and express agreement or disagreement politely.

📌Bitcoin Analysis (BTCUSDT), 1-hour time frame.

🛑 Always set a Stop Loss(SL) for every position you open.

✅ This is just my idea; I’d love to see your thoughts too!

🔥 If you find it helpful, please BOOST this post and share it with your friends.

May 4

Note

The S&P 500 index has started pumping — financial markets are on a roller coaster right now

Moves are heavily driven by news, with sharp pumps and dumps happening fast.

Stay cautious and manage your risk properly — this is not a market to overexpose yourself.

May 4

Trade active

Entry Point: 80253.0 USD  (Limit Order)

Take Profit: 78189.0 USD➡️Risk-To-Reward: 1.76

Stop Loss: 81423.0 USD

May 5

Trade closed: stop reached