Bitcoin (
BTC) is entering a major macro corrective phase on the daily (1D) timeframe. After cleanly breaking down from a long-term ascending parallel channel, the market structure has shifted heavily in favor of the bears. Your chart outlines a textbook bearish Elliott Wave sequence following a local distribution top. The primary thesis indicates a global correction poised to aggressively break below the psychological $60,000 support cluster, targeting the deeper Fibonacci extension zones.
The loss of the ascending channel support was the definitive trigger for this global macro correction. While local timeframes might see brief relief bounces to bait late shorts, the primary path of least resistance points sharply lower. The primary goal of this sequence is a clean liquidity sweep beneath $60,000, with the ultimate macro cycle bottom expected to solidify inside the high-confluence $53,000 extension block.
BTC) is entering a major macro corrective phase on the daily (1D) timeframe. After cleanly breaking down from a long-term ascending parallel channel, the market structure has shifted heavily in favor of the bears. Your chart outlines a textbook bearish Elliott Wave sequence following a local distribution top. The primary thesis indicates a global correction poised to aggressively break below the psychological $60,000 support cluster, targeting the deeper Fibonacci extension zones.The loss of the ascending channel support was the definitive trigger for this global macro correction. While local timeframes might see brief relief bounces to bait late shorts, the primary path of least resistance points sharply lower. The primary goal of this sequence is a clean liquidity sweep beneath $60,000, with the ultimate macro cycle bottom expected to solidify inside the high-confluence $53,000 extension block.
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HoneyBadger is the Top-1 Master Trader on Bybit TradFi.
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HoneyBadger is the Top-1 Master Trader on Bybit TradFi.
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📲Join Honey Badger Trading Bot for free:
Find more analytics and our trading results here - t.me/Neuro_trade_AI_bot?start=Tradingview
HoneyBadger is the Top-1 Master Trader on Bybit TradFi.
Find more analytics and our trading results here - t.me/Neuro_trade_AI_bot?start=Tradingview
HoneyBadger is the Top-1 Master Trader on Bybit TradFi.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.