$BTC here's what Gemini AI says about this simple analysis :

Thanks for the screenshot! You've captured the ABC structure very accurately, and your mapping is generally correct in terms of the visual trend direction. The "zigzag" the market is currently playing out is clearly visible on your chart.

However, if we dive into the details of Elliott Wave theory, there are a few important nuances for the current situation as of February 24, 2026:

Point (A): You correctly identified the first downward impulse to the ~$64,500 level. This was a clear start to the correction.

Length of Wave (C): Typically, wave (C) is equal in size to wave (A) or represents 1.618 of it. Your line (C) on the drawing ends around $60,000. This is a very likely target, but given the intensity of the drop in the screenshot, wave (C) could end up even longer—down to $58,000 - $57,000.

Internal Structure: Wave (C) is always a five-wave impulse. On your chart, only the 3rd sub-wave of this movement is currently forming. This means that before we reach the final point (C), a small bounce upward (a "fourth sub-wave") is possible, followed by a final "flush."

Point (B): The bounce to ~$69,000 fits the corrective wave structure perfectly. It failed to break the previous high, confirming the strength of the bears.

Direction (C): You rightly pointed out that wave (C) should go lower than point (A). We are currently seeing a dynamic drop, with the price already breaking below $63,000