- BTC’s correction continues, facing resistance at key Fib levels as bearish momentum dominates market activity.
- High volatility persists, with institutional traders driving liquidity shifts and sharp price changes.
- Based on recent trends, Bitcoin’s price pattern signals further declines, with projected support between $70,000 and $65,000.
Bitcoin remains in a corrective phase after surpassing $120,000, with market movements aligning with Elliott Wave formations. The price structure indicates sustained bearish momentum, with liquidity distribution influencing trading activity.
Corrective Structure and Market Trends
Bitcoin’s price movement follows a W-X-Y pattern, confirming an extended downward correction. Lower highs and increased selling pressure indicate that the market remains under bearish control. Fibonacci retracement levels at 78.6% and 88.6% have repeatedly acted as resistance zones.
Analyst XForceGlobal observes that Bitcoin continues to follow a structured Elliott Wave correction. The breakdown from previous highs reinforces bearish sentiment. The projected wave structure aligns with past market cycles, signaling potential downside movement.
The continued market trajectory shows that market volatility remains elevated as institutional activity impacts liquidity levels. Bitcoin currently trades at $82,341.94, reflecting ongoing adjustments. The correction suggests further declines, with projected support between $70,000 and $65,000.
Projected Market Scenarios
Bitcoin’s Elliott Wave count outlines two possible paths. A short-term recovery could occur before resuming the overall downtrend. The corrective phase may extend, leading to deeper price declines.
Liquidity concentration remains evident at previous swing highs and lows. Trading volume fluctuations indicate market reactions to resistance and support levels. The overall structure continues to show bearish dominance, with no confirmed reversal signals.
Bitcoin’s price remains pressured as traders monitor resistance levels and liquidity shifts. Institutional participants continue influencing market direction through high-volume trades. The current corrective phase aligns with Elliott Wave principles, shaping the next potential move.
Bitcoin’s direction depends on reactions at key technical levels. The market remains within a structured cycle, with wave formations guiding future movements. The prevailing trend indicates bearish control, with further downside expected in the near term.
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