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Author: Admin | 2025-04-28
Likely count shows a completed five-wave increase and A-B-C corrections since January 13. Waves A:C had a 1:1.61 ratio, common in such structures.For Bitcoin to remain bullish, it has to hold above the $91,257 low (red, dashed) and especially the $89,257 low (red).A breakdown below the former will cast doubt on this count, while one above the latter will invalidate it.BTC/USDT Six-Hour Chart | Credit: Valdrin Tahiri/TradingView The long-term count suggests that BTC has either completed its five-wave increase (red) or is in its final portion. The sub-wave count is in white. If the short-term breakout continues, sub-wave five will extend.However, in the event of a reversal, the BTC price will have completed its market cycle.The current high is suitable for a cycle top since it has occurred at the 1.61 external retracement of the previous drop (white) and gives wave five the same length as waves one and three combined (red)An extension can take the Bitcoin price toward $142,020-$155,326, giving wave five 1.61 times the length of waves one and three combined and reaching the 2.61 external Fibonacci retracement level.BTC/USDT Weekly Chart | Credit: Valdrin Tahiri/TradingView Therefore, the Bitcoin movement from now on is critical. The continuation of the breakout above $99,000 will confirm the bottom is in and wave five has started. If this happens, Bitcoin will increase to a new all-time high.Alternatively, a decline below $91,300, especially $89,400, will confirm that the bear market has started.Critical Week AheadThe BTC price recovered after the February 3 liquidation event and recently broke out from a short-term wedge pattern.Whether the price maintains its upward movement will be critical for the direction of future trends. Disclaimer: The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions. Was this Article helpful? Yes No
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