We discussed about Bitcoin back on January 30, where we mentioned and highlighted an ongoing wave V. CLICK HERE
Bitcoin is moving lower after completing a complex W-X-Y correction within a higher-degree wave IV on the weekly chart, suggesting wave V of a larger wave (A) is now unfolding. Price is approaching a key support zone between $70,000 and $74,000, where stabilization and a corrective recovery in wave (B) could begin. If this support holds, consolidation and a potential rebound may follow. A clear break below, however, would likely extend the correction. The $70k–$74k area is therefore a critical zone for both short-term traders and longer-term market outlook.
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