Bitcoin remains in a corrective phase, with experts analyzing its stages and causes.
Market Structure and Key Levels
Bitcoin is trading at $82,414.19 after a pullback from previous highs. XForceGlobal analysts highlight market inefficiencies in lower timeframes with a diagonal pattern forming. Fibonacci levels indicate support at $72,000 and $63,150, consistent with past price reactions. Resistance remains around $94,000. Analyzes these processes https://x.com/XForceGlobal/status/1899149968272982201.
Elliott Waves and Resistance Levels
Bitcoin completed a five-wave impulse move and now is in an extended corrective phase. Analysis identifies the 123.6% Fibonacci extension zone as critical support. The ongoing WXY structure indicates potential continued consolidation. Key support remains at $98,000, with possible short-term rallies to $92,000–$96,000.
Projections and Future Scenarios
Short-term expectations suggest continued consolidation before the next major movement. XForceGlobal projects that if Bitcoin fails to reclaim resistance zones, bearish momentum could extend, with wave structures and Fibonacci levels indicating declines towards historical support. Analysts monitor price reactions to forecast market direction.
Bitcoin remains under corrective influences, and analysts continue to watch key support and resistance levels to predict future movements.
