I am seeing $BTC appear a quite notable structure when wave 2 seems to have completed after a relatively clear zigzag corrective pattern.
If this wave counting method continues to hold, I believe the market may be entering a much more sensitive phase, as wave 3 is usually the strongest, fastest movement and also puts the greatest pressure on investor sentiment.
With this scenario, I think Bitcoin may face a strong sell-off in the near future, with notable target areas around 58,000 to 55,000 USD. This is not only a potential support zone technically but also an area that could become a real test of the buying side's endurance.
If the price is pulled back to this area with strong momentum, I think the market is very likely to fall into a state of short-term panic, especially when many positions expecting recovery before are forced to close.
Currently, the invalidation level of this scenario is at 74,000 USD. In other words, if the price returns and convincingly exceeds this threshold, the wave counting of the decline that I am monitoring will no longer hold its reliability as before.
For me, the entire upcoming developments will largely depend on whether Bitcoin continues to maintain selling pressure or not. This is a phase where the market can fluctuate very quickly, and just one misstep in expectations can change the entire short-term picture.
