🚨 Bitcoin on the Monthly Chart 🚨

▪️After a historic rally reaching $124,474 ✨,
the wave structure suggests a potential deep correction toward the 61.8% Fibonacci level 📉.

Rule: When A Support Or Resistance Level Is Broken By A Large Candle, There Is A High Probability That The Price Will Either Correct Or That The Breakout Is False.

The strength of support/resistance is measured by the number of touches

The more times price bounces from the same level, the stronger it becomes.

But be careful: every bounce weakens it slightly → like a wall that’s cracking.

Support and resistance are not a line – they’re a zone

Don’t treat them as a straight line, but as a zone where buyers and sellers clash.

If the price breaks your line by a few points → it doesn’t necessarily mean a real breakout.

ETHUSD on the 2-week chart is showing a new impulse wave according to Elliott Wave analysis

TP: 170.000

We’ve Been Receiving A Lot Of Questions About Whether we Have A Private Channel.

But If We Decide To Create A Private Channel.

@ewmteam

Bitcoin on the 1-Day timeframe is currently in corrective wave (ii) after completing wave (1) down.

▪️If the Elliott Wave count is correct, the next target would be wave (iii) heading lower toward the 161.8% Fibonacci extension around $102,500.

▪️Since each candle = 1 day, this scenario could take a few weeks to play out before a new major move unfolds.

▪️The trend remains bearish within the descending channel, and any short-term bounce above 61.8% still keeps the downside scenario valid.

It’s well known that markets are inherently created to RISE.

We kindly ask all Elliott Wave analysts in the channel to prepare an analysis of this chart and share it with us.

@ewmteam