BTC Forms Leading Diagonal, Could Wave C Push Price to 84,000?
In my view, the current structure of Bitcoin $BTC is quite suitable for a familiar Elliott scenario: wave A forms in the shape of a leading diagonal, followed by a strong corrective wave B.
It is noteworthy that wave B is currently approaching the Fibonacci 'golden pocket', where significant price reactions often occur if the structure remains valid.
I don't completely trust Elliott, but when it aligns with liquidity areas and actual price behavior, it is worth monitoring.
In this case, if the golden pocket holds, then this could be a reasonable end point for wave B, meaning the area where selling pressure gradually diminishes and the market begins to shift into a recovery phase.
If this scenario unfolds correctly, wave C could be a stronger and more decisive move. The target I am watching is around the $84,000 area, where there is a possibility of significant profit-taking or supply reaction.
However, it is important to have a wrong scenario. If the price breaks below $60,000, this structure is almost invalidated, and at that point, the market could enter a phase much weaker than current expectations.
In this area, I think it's not a certain moment, but a moment to manage probabilities.
#BTC
