Technical analysis by TheWaveHunter about Symbol BTC on 6 hour ago

Hey traders 👋 Bitcoin might be setting up for a strong move downwards after completing what appears to be a 5-wave impulse structure on the higher timeframe. There’s also a clear RSI bearish divergence, suggesting that bullish momentum is fading and a correction could be near. I’m currently expecting a medium-term ABC corrective phase, though it’s still uncertain whether it will develop as a classic zig-zag or a flat/flag-type correction. 🎯 Trade Plan (Short Setup) - Entry Zone: 112,000 – 118,000 USDT - Stop Loss: above 125,000 USDT - Take Profit 1: 75,000 USDT - Take Profit 2: 52,000 USDT - Final Target (Wave C): around 43,000 USDT ⚡ Notes: If BTC breaks below the previous wave 4 area with strong momentum, that would add more confirmation to the corrective scenario. However, if the market maintains higher lows, we could still see an extended B-wave or even a continuation of the uptrend. 📘 Reminder: This is not financial advice — always DYOR and manage your risk properly.