Bitcoin is currently forming a diamond-shaped diametric pattern and appears to be in the middle of Wave E. In diametric formations, Wave E is typically one of the strongest and most powerful waves.
A new Bitcoin supply zone is located within the red area. Any retracement back into this supply zone could provide an opportunity to enter a short position.
Our minimum expectation is for Wave E to decline at least toward the 53K level.
The key question now is whether Wave E alone will be enough to reach the green zone, or if the market will require Wave G to complete the move into that area.
⚠️ Avoid taking blind short positions. The market has already experienced a significant drop and may undergo a temporary recovery. Focus on short setups that are confirmed by your analysis and provide a valid trigger before entering a trade.
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