elliottwave

📊 $BTC /USD Update – Rejection at Trendline | Possible Start of a New Bearish Impulse (1H)

Following the previous analysis, Bitcoin has now completed the expected corrective bounce, reaching the projected resistance area and reacting strongly from it.

Price tapped the descending trendline resistance and the key horizontal level near 74K, where sellers stepped in aggressively.

🔎 Market Structure Update

The corrective structure appears to have developed as a Regular Flat (ABC):

• Wave A: Initial recovery from the support zone
• Wave B: Pullback into the ascending support trendline
• Wave C: Final push into the resistance cluster near 73K–74K

The C wave completion at resistance combined with the trendline rejection increases the probability that the correction phase has ended.

📉 Bearish Context

The broader structure still favors a downtrend, supported by:

• Major descending trendline acting as resistance
• Price rejecting from a previous supply zone (~74K)
• RSI bearish divergence forming near the recent top
• Price trading inside a descending channel

This confluence suggests the market may now begin a new impulsive move to the downside.

📊 Potential Scenario

If the rejection continues to hold, the market could start Wave 1 of a new bearish impulse.

🎯 Primary downside target zone:
≈ 60,000

This level aligns with:

• Previous strong support
• Psychological round number
• Liquidity resting below the current range

🛑 Invalidation Level

A sustained break above the recent high (~74K) would invalidate the immediate bearish scenario and suggest further upside continuation.

⭐ Technical Confluences

• ABC corrective structure completed (Regular Flat – 57% probability)
• Strong trendline resistance rejection
• RSI bearish divergence
• Price reacting from HTF resistance zone

💬 Conclusion

Bitcoin has now reached a critical decision point. The reaction from resistance suggests that the corrective rally may be over, and the market could be preparing for a new impulsive move downward.

If momentum confirms the breakdown, the 60K region becomes the next major liquidity target.

📌 This analysis reflects a technical interpretation of the chart and is not financial advice.

#BTC #Bitcoin #Crypto #ElliottWave #TradingView #TechnicalAnalysis

$SOL

Advanced Wave Analysis for Binance Square Traders
🌀 Elliott Wave Structure – What’s Unfolding?

Solana (SOL/USDT) is currently developing a clean corrective wave sequence, and the Elliott Wave count is unfolding with precision on the current timeframe.

We’re mid-way through a complex corrective move, and price action continues to follow textbook wave behavior — offering smart traders a roadmap into what’s next.

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🧠 Current Wave Count Breakdown

The recent move up from the local low has formed a 5-wave impulse (labeled in yellow).

Wave 3: Already completed.

Wave 4: Currently forming a classic A-B-C flat correction.

Wave 5: Expected to follow next, completing wave (C) of (A).

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🔁 What Comes After?

Once this 5-wave impulse completes, we anticipate:

1. A retracement forming wave (B) of the broader corrective structure.

2. A final push up into the green target zone, completing wave (C) of (B).

After this corrective phase wraps up, a larger 5-wave decline is expected — marking the completion of the macro Elliott structure.

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✅ Validity & Wave Rules

The current count remains valid as long as the core Elliott Wave rules are respected, including:

Wave 4 does not enter the territory of Wave 1.

Wave 3 is never the shortest among Waves 1, 3, and 5.

Proper A-B-C formation in the corrective waves.

These wave conditions give this analysis high confidence for active Elliott Wave traders.

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🔭 Key Takeaway

SOL/USDT is mid-cycle in a sophisticated Elliott correction. This offers both:

Short-term bullish opportunities (completion of Wave 5)

Mid-term bearish preparation (macro Wave C downtrend)

Patience and precision are key — ride the waves, don’t fight them.

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#Solana #SOLUSDT #ElliottWave #CryptoAnalysis #TechnicalTrading #BinanceSquareFamily