BTC/USD Technical Analysis (8H Timeframe)

📊 BTC/USD Technical Analysis (8H Timeframe)

✅ Wave Count Summary
✅ The 5-wave impulse structure is clearly completed.
Wave I to V is visible and respected the Fibonacci zones.
Now transitioning into an ABC corrective phase, typically part of an A-B-C Zigzag.
🔻 Current Move: Wave A
The price has started correcting from the Wave V top (~$112,000).
Wave A has begun and is expected to target the 0.382 Fibonacci retracement level, which aligns at:
🎯 Immediate downside target: ~$102,000
This corresponds to:

Former support/resistance zone
A typical Wave A correction target in early stages

🔁 What Happens Next
After Wave A completes (~$102,000), expect a relief bounce into Wave B, potentially retracing 50–61.8% of Wave A

Then another drop into Wave C toward deeper Fib levels like:
0.618 level = ~$88,800
0.786 or 0.88 might come into play for full ABC correction (~$78,000–$74,000)

🔍 Structure & Confirmation

Wave A breakdown is impulsive (bearish)
Break below previous Wave IV (~$106,000) gives confirmation of short-term trend reversal
RSI and momentum indicators (if added) would likely show bearish divergence at Wave V top

📉 Short-Term View

Direction Target Note
⬇️ Wave A ~$102,000 0.382 retracement zone
🔁 Wave B ~$106,000 Possible lower high bounce
⬇️ Wave C ~$88,800 0.618 Fib — final correction

🧠 Conclusion

BTC completed a textbook short-term 5-wave impulsive move and is now entering a corrective phase (ABC). Wave A is underway with an immediate target around $102,000, followed by a likely bounce (B) and then further downside (C).


⚠️ Disclaimer:
This analysis is intended for educational and informational purposes only and should not be considered financial advice or a recommendation to buy or sell any asset. Please perform your own research or consult a licensed financial advisor before making trading decisions. Trading involves substantial risk and is not suitable for all investors.