Depend on divergence and RSI support signals

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Bitcoin 15-Minute Chart Analysis

The larger Wave ③ initiated after a breakout above an inverse head and shoulders pattern.

Wave ③ appears to have completed near the 2.272 Fibonacci extension, followed by a divergence, signaling the start of a correction.

A mild A–B corrective rebound occurred, then another drop followed after a second divergence and RSI resistance.

Currently, moving averages remain in a bearish alignment (death cross).

Refer to Fibonacci retracement levels to gauge the depth of Wave ④.

Wave ④ completion will depend on the presence of divergence and RSI support signals.

Penafian

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