Bitcoin's been riding out what looks like the final leg of its corrective phase—specifically a wave-c pattern within the broader fourth wave structure. The price dipped right down to that 38.2% Fibonacci retracement zone, which typically signals the correction might be wrapping up. Here's the thing though: if we see a decisive push past the 94,175 level, that could be our confirmation that the fifth wave of the larger pattern has actually kicked off. This breakout point matters because it would validate the Elliott Wave count and potentially signal the resumption of the broader uptrend. Worth keeping an eye on price action around that threshold.
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AirdropCollector
· 12-05 02:19
A breakout above 94175 will confirm a takeoff; otherwise, it will continue to consolidate.
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CexIsBad
· 12-05 02:05
Will breaking 94175 confirm the start of the fifth wave? I don’t think so. Whether this rebound can hold steady is the real key.
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BlockchainGriller
· 12-05 02:04
Is this level 94175 really that critical? Why does it feel like we're always waiting for "confirmation"?
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StealthDeployer
· 12-05 01:58
Is the 94175 level really that critical? It feels like every time someone calls a support level, it just gets broken.
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BlockchainDecoder
· 12-05 01:57
From a technical perspective, the 94175 level is indeed critical, but what I care more about is whether the trading volume can keep up—bearish confirmation often fails right at this point.
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MEVSandwichVictim
· 12-05 01:52
It's the Elliott Wave Theory again. All day long it's just about counting Fibonacci... Feels like every time they say it's about to break through some key level, but then what happens?
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DataBartender
· 12-05 01:41
You really need to keep a close eye on the 94175 level; it feels like it's about to break.
Bitcoin's been riding out what looks like the final leg of its corrective phase—specifically a wave-c pattern within the broader fourth wave structure. The price dipped right down to that 38.2% Fibonacci retracement zone, which typically signals the correction might be wrapping up. Here's the thing though: if we see a decisive push past the 94,175 level, that could be our confirmation that the fifth wave of the larger pattern has actually kicked off. This breakout point matters because it would validate the Elliott Wave count and potentially signal the resumption of the broader uptrend. Worth keeping an eye on price action around that threshold.