The Trust Layer for Market Analysts

The analysis focuses on Bitcoin (BTC) with a bearish outlook, predicting a significant downward movement. The current wave count suggests that the market is in a corrective phase, potentially forming a larger wave 3 or 5. The primary scenario indicates a continuation of the downtrend, with a target identified around 39,700. The fail bound for this bearish scenario is set at 73,000, above which the bearish structure would be invalidated. The analysis also considers alternative scenarios, including a potential extended wave 4 that could lead to a retest of higher levels before resuming the downtrend, or even a zigzag pattern unfolding into a larger ABC correction. The timeframe for this analysis appears to be longer-term, possibly encompassing several months to over a year, given the wave counts and projected movements.