Eseandre Mordi
⬤ Bitcoin is showing early signs of a broader corrective recovery after bouncing from its February 6 low. The current setup suggests BTC might be entering a larger B-wave advance that could develop as an ABC structure. However, this scenario requires the price to first establish a higher low while holding onto micro support levels identified in recent lower timeframe charts.
⬤ The analyst has mapped out a major resistance zone stretching from $86,600 to $115,040. Any rally toward this area becomes realistic only if support holds firm and the overall structure stabilizes. Right now, the bounce from February's bottom still looks corrective rather than impulsive, meaning Bitcoin remains at risk of another leg down. This consolidation behavior mirrors what traders observed in BTC price analysis, where the market hovered around key retracement levels while searching for direction.
⬤ For bulls to gain real momentum, BTC needs to clear the weekend high and push back above $74,460—the April low that now acts as a critical reclaim level. A similar pattern played out during the Bitcoin rebound after sweeping lows, where price found stability following liquidity sweeps.
⬤ There's an alternative view worth considering: the current move might actually be wave four instead of an A-wave. If that's the case, Bitcoin could push toward new all-time highs, though this would require a clean five-wave impulsive rally to confirm. Recent resistance dynamics highlighted in the BTC resistance outlook show how key level failures have shaped short-term trends.
⬤ What happens next around these support and resistance zones will reveal whether Bitcoin stays stuck in correction mode or shifts into a stronger trend, ultimately determining near-term market sentiment.
Eseandre Mordi
