Bitcoin has recovered from the lows, with price action suggesting a corrective structure, either as an ABC correction or a more complex WXY rally. This indicates the move may still be part of a broader consolidation rather than a confirmed bullish trend.
According to the primary count, Bitcoin could now be in the final stages of wave C, with key resistance seen in the 76k–79k area. This zone may act as a ceiling for the current recovery. A sharp and impulsive drop back below 65k would be the first signal that bears are regaining control.
At the same time, an alternative scenario suggests a more extended WXY correction. In this case, Bitcoin could target the 80k–84k resistance zone, which aligns with the CME gap. If this plays out, a short-term pullback in subwave (B) may occur first, followed by another push higher into subwave (C) of wave Y.
Overall, while the recovery remains intact, the structure still leans corrective, so traders should stay cautious near resistance and watch for potential signs of reversal.
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