Bitcoin continues to respect the Elliott Wave structure and is now consolidating after touching the $124K high. This looks like a textbook setup for the final Wave (5) rally.
❗️Resistance: A weekly close above $120K will confirm the breakout toward the next leg higher.
📈 Technical Indicators:
✅ MACD: Cooling momentum, but this exact setup happened before.
- In Jan 2024, BTC formed a shooting star + doji with a fading MACD, which looked bearish. Instead, price ignored the weak signal and pumped massively.
- Now (Aug 2025), MACD is again flattening while price stays strong in range. This could be another fake bearish signal, trapping shorts before breakout.
✅RSI (55.31): Neutral zone, leaving plenty of upside room for a parabolic move.
🧠 Market Sentiment & Fundamentals:
- Higher lows remain intact since the $70K correction (Wave 4). - Fed expected to deliver 3–4 rate cuts in next 6 FOMC meetings. - Liquidity injection from U.S. fiscal stimulus (Trump’s “Big Beautiful Bill”). - Global M2 money supply expanding. - Despite geopolitical risks & tariffs, markets remain resilient.
🎯 Outlook As long as BTC holds above $109K, Wave (5) targets remain $160K–$200K into early 2026.
👉 Dips = opportunities. Bulls in control unless $98K breaks.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
🚀 Bitcoin Weekly TA – Wave 5 Setup?
Bitcoin continues to respect the Elliott Wave structure and is now consolidating after touching the $124K high. This looks like a textbook setup for the final Wave (5) rally.
✅BTC currently trading around $110K.
Immediate support levels:
🔹 $109K (short-term)
🔹 $98K (major weekly support)
❗️Resistance: A weekly close above $120K will confirm the breakout toward the next leg higher.
📈 Technical Indicators:
✅ MACD: Cooling momentum, but this exact setup happened before.
- In Jan 2024, BTC formed a shooting star + doji with a fading MACD, which looked bearish. Instead, price ignored the weak signal and pumped massively.
- Now (Aug 2025), MACD is again flattening while price stays strong in range. This could be another fake bearish signal, trapping shorts before breakout.
✅RSI (55.31): Neutral zone, leaving plenty of upside room for a parabolic move.
🧠 Market Sentiment & Fundamentals:
- Higher lows remain intact since the $70K correction (Wave 4).
- Fed expected to deliver 3–4 rate cuts in next 6 FOMC meetings.
- Liquidity injection from U.S. fiscal stimulus (Trump’s “Big Beautiful Bill”).
- Global M2 money supply expanding.
- Despite geopolitical risks & tariffs, markets remain resilient.
🎯 Outlook
As long as BTC holds above $109K, Wave (5) targets remain $160K–$200K into early 2026.
👉 Dips = opportunities. Bulls in control unless $98K breaks.
#WeeklyHighlightPosts