Bitcoin just tapped the weekly FVG + channel support, completing what looks like a running flat correction.
This zone has acted as a major demand area, and price reacted exactly where a higher-timeframe Wave 2 should finalise.
As long as BTC holds above this green support block, the bullish macro structure stays intact.
Upside targets for the next impulsive leg are:
147,961 (1.0 extension)
164,105 (1.27 extension)
184,641 (1.618 extension)
If this running flat is confirmed, Bitcoin may be entering a large Wave 3 — historically the most explosive phase.
Still watching weekly close for validation, but momentum is shifting.
⚠️ Disclaimer
This analysis reflects my personal view based on market structure and Elliott Wave principles.
It is not financial advice.
Always do your own research and manage your risk — the market doesn’t forgive careless entries.
Penafian
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Penafian
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
