Bitcoin It has absorbed the sharp decline and stabilized at major supports, indicating that buyers are firmly in control. As the market structure holds, insights from the quantum model suggest that a third wave is underway, pointing to a near-term target around $104,000.
Q-Structure Confluence remains solid and maintains bullish bias
In the recent Elliott chart, updatehighlighted that Bitcoin remains firmly supported near the λ₅ confluence zone of the Q structure, and that this level continues to underpin the broader bullish outlook. This support area is absorbing selling pressure and suggests that large participants are still defending key levels despite recent developments. volatility.
A closer look at the market structure reveals that the recent pull back The current situation is classified as a complex correction phase rather than the beginning of a larger downtrend. Specifically, the modification is interpreted as an intermediate wave (2) and unfolds via a zigzag W | Zigzag X | Triangle Y setup.
This correction pattern has largely been resolved, and the Elliott chart highlights that an intermediate wave (3) is currently underway and small waves 1 and 2 are already taking shape. This suggests that the market is building the foundations for a more definitive rally.
A key part of what’s going on right now is Impulsive Minor Wave 3. Historically, this wave tends to be the strongest and most aggressive part of the advance. If things play out as expected, the model shows a near-term Q target around $104,444, generated using the Q-structure λᵣ projection.
This bullish scenario is derived from insights within the framework of quantum models and is not based on short-term noise. Notably, this potential trend reversal was first predicted on November 15th during Bitcoin’s decline.
Sharp Flash finds strong demand at key levels
A closer look at current price trends, CyrilXBT disclosed Although Bitcoin experienced a sharp flush, it found buyers at precisely the critical support levels, allowing the price to stabilize and gradually rise. This reaction indicates that the recent decline was not caused by panic selling but was absorbed by strong demand, reflecting healthy market participation by buyers. key zone.
This type of price action emphasizes absorption rather than fear. The most obvious is the high-low structure that emerged after the decline. This formation is important because it signals that downside pressure is waning. As long as Bitcoin continues to hold within this restored range, the risk of further decline will decrease and the market will remain intact. potential towards further upward movement.
Sideways or consolidation price action at these levels is constructive for cryptocurrencies overall market. Maintaining this structure will set Bitcoin up for a healthier, more sustainable progression rather than a hasty and volatile rebound.
