First: A quick reading of what appears on the chart
Current price: 94,012$
The last clear bottom: 80,600$
EMA7 at 90,777 (Price is above it → Short-term rise)
EMA25 at 93,423 (It has been broken → Signal of the beginning of an upward wave)
EMA99 at 103,810 (Major resistance for the next wave)
RSI is moving upwards and is integrated across the three time frames (6–12–24) → Positive momentum.
MACD entered a bullish crossover wave (Bullish Reversal).
#تحليل _Elliott-Wave
Based on the bottom of $80,600 and the current rise, we can interpret the current movement as follows: * It is clear that Bitcoin has completed a major corrective downward wave from the peak of $96,800 down to $80,600, and this is very similar to a corrective wave C.
This means we are now at the beginning of a new impulse wave (Impulse Wave 1) within a larger uptrend. (Say, oh God)
😎 The current waves on the daily chart.
🟢 Wave 1 (Wave 1):
It started from 80,600 and reached around $92,000, then a slight correction occurred.
🟡 Wave 2 (Wave 2) is a correction from the peak of wave 1, and it dropped to around $87,000–88,000 before the price rebounded. 👈 This correction seems to be of the Zigzag type (A-B-C), and very accurately.
🔴 Wave 3 (Wave 3): — we are now inside it.
And they are considered the strongest Elliott waves.
The indicator of our entry into wave 3 is the strong breakout of EMA7 and EMA25.
🤷♂️ Long green candles.
😎 MACD is turning into a strong upward wave.
☺️ RSI jumps with a clear inclination without saturation.
The target for the third wave according to Fibonacci extension ratios:
1️⃣ 97,800 – 98,500 (this matches the resistance of EMA99).
2️⃣ Fibonacci 1.618 👈 103,500 – 105,000$
3️⃣ Extension 2.618 👈110,000 – 112,000$
And it is a likely target if wave 3 is extended (which is common in Bitcoin).
🫣 The potential wave 4 (Wave 4 – later).
After reaching the area of 103–110K, wave 4 will come as follows:
A slight sideways or downward correction is likely to return the price to 95–100K.
🥰 The final wave 5 (Wave 5):
It will come after wave 4, and may push Bitcoin to:
114,000 – 120,000$ according to the strength of the flows.
🔥 The wave summary.
Bitcoin now:
✔️ It has completed a downward wave (C).
✔️ It has completed the upward wave 1.
✔️ It has completed the corrective wave 2.
✔️ It is now strongly entering the beginning of the rising wave 3 — the strongest.
And the expected targets for wave 3 🤔💪
98K → 103K → 110K
Of course, the probability of canceling all this is what?? #Staying below 97k that I mentioned a week ago and repeated today .. Breaking 97k and stabilizing above it (the post's statement is valid, otherwise we will drop again to correct, until where we will see this together ..
