🚀 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
BTC0,15%
TA1,85%
LOOKS-0,65%
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Asiftahsinvip
· 08-29 08:48
Thank you so much for the information
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