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A lot of traders are wondering when Bitcoin will complete the pullback from the highs, but if we are really in a higher-degree retracement then keep in mind that the big pullbacks on Bitcoin usually lasted around 12 months, and right now we are only one and a half months away from the recent highs. That’s the first thing. The second thing, and the most important for me, is always the Elliott wave structure itself. I simply cannot ignore it, because it helps me identify the key levels that must be broken before we can confidently look for a turning point. If you look closely at the price drop from the 116515 level, you can clearly see that this is a strong decline without a completed five-wave sequence yet. So even if we assume this is wave C rather than wave four, it still has to be structured by five waves. That means the current rebound from the 80k zone could easily be just a fourth wave, maybe stopping around 90k, which is an important swing level for this week. Based on Elliott waves and price action, this weakness can still resume. The key level for a bullish turn is very clear: a push back above 99k, or better said 100k, which is a strong psychological pivot. Below it we stay in bearish mode with risk for one more drop.

Bitcoin is breaking back below the $100k level and the channel support drawn from the 2022 lows. This price action suggests that we may be completing the bull cycle that began from those lows—one that lasted roughly three years, similar to previous bullish phases from January 2015 to December 2017 and December 2018 to November 2021. Given this context, there is now a meaningful risk of a deeper correction. Historically, each new cycle tends to produce shallower percentage pullbacks, but the correction phase is still an important part of the broader market structure. For those looking to position themselves for the next major bull run, it would be safer to wait for the market to undergo a sustained corrective period, potentially lasting around a year, before re-entering with the broader trend. From an Elliott Wave perspective, Bitcoin may have completed a five-wave impulse within a higher-degree wave (V) of III, aligning with the idea that a higher-degree wave IV correction could now be unfolding. Additionally, from a cyclical standpoint, the market appears to have topped in October 2025, which further supports the probability of entering a bear-market phase. In summary, Bitcoin may now be transitioning from a multi-year advance into a structurally significant corrective period—one that could provide a healthier foundation for the next major expansionary cycle.

MicroStrategy has seen a strong uptrend since the December 2022 lows, but over the last year the market has been in a retracement phase. It appears that this could be another A-B-C setback within a higher-degree wave four, where subwave C could potentially retest the 200 area, or even extend toward the deeper 132 support. That level also aligns with the February 2021 high, making it an important zone to watch. Cycle-wise, it looks like we’re currently in the middle of a full cycle, suggesting that the correction could be moving into second half of this retracement, and may come to an end within the next few months. Ideally, we could then see a new turn higher in 2026, continuing the broader bullish trend. Highlights: Trend: Corrective pullback in wave four Support: 200 / 132 Cycle View: Mid-cylce; possible new rebound early 2026 Note: Structure fits within a broader five-wave bullish sequence, with strong long-term trend intact GH

As you may have noticed, gold has seen a sharp reversal in recent weeks, and many traders and investors are now wondering whether this correction will be quick and shallow or last longer. From an Elliott Wave perspective gold seems like it may try to complete an extended wave three, and put wave four pause in play. But what can trigger a retracement? Well we need to consider US monetary policy. Powell didn’t convince markets last week about further cuts in December, so if rates stay on hold for the next few months or even longer, gold may continue to pause. The metal usually rallies more easily when expectations for rate cuts rise, not fall. So, both from a macro and wave perspective, this likely fits as a higher-degree fourth-wave correction. Overall, this correction could last longer, and once deeper prices flush out late buyers and weaker positions — possibly in the coming months — that’s when we’ll likely be more confident calling for the next major leg higher, ideally early in 2026. So looking to buy? Patience! Grega

Nvidia is making more upside this week, now trading above the 200 level on optimism that the US and China could reach a tariff deal. From an Elliott Wave perspective, the stock still appears to be in wave five, with an extended higher-degree black wave three now approaching its first resistance around the 38.2% projection. If risk-on sentiment continues, the price may even retest the upper side of the Elliott Wave channel near the 230 area. This suggests that Nvidia could be entering an important zone where the higher-degree black wave three might complete, followed later by a deeper fourth-wave retracement before more upside resumes. So, I would stay patient and watch for a possible dip toward the 164–185 area once wave four begins. Highlights: Trend: Ongoing uptrend; wave five still in progress Potential: Reaching 230 resistance before wave four pullback Support: 164–185 zone Invalidation: Below 164 Note: Watch for signs of exhaustion near 230; next deep could offer new opportunity

Kaspa Completes A Correction After A Huge Spike that can be supportive, as we see a corrective structure within the uptrend by Elliott wave theory. Kaspa is a proof-of-work (PoW) cryptocurrency that uses the novel GHOSTDAG protocol (a block-DAG consensus rather than a single linear chain) to allow many blocks to be produced more rapidly and co-exist. It was launched without an ICO / pre-mine (fair launch) and positions itself as more scalable than many PoW chains. Because of this, it has attracted interest as a “next-gen PoW” or “fast chain” alternative. Kaspa’s sell-off appears of a combination of leveraged long liquidations intensifying a move down, weak macro/altcoin sentiment and structural risks (adoption/supply concentration). Despite a massive price drop, sparking fear and pessimism across the market, such deep pullbacks often create opportunity rather than signal failure. Despite the volatility, Kaspa’s fundamentals remain solid. Its innovative GHOSTDAG technology, fair launch, and strong network activity continue to set it apart. When fear dominates and sentiment turns overly negative, it can actually be a supportive setup for long-term investors looking to accumulate quality projects at discounted levels. From Elliott wave perspective, KASUSD(Kaspa) spiked down out of a wave B triangle pattern into wave C, so it’s a higher degree ABC correction. It still looks promising for the future, and we may still see some rally in the current bullish cycle. Bullish confirmation is above 0.091 area.

Ripple is still bullish despite the recent spike lower, which can act as a strong support from a technical and Elliott wave perspective. Ripple is a blockchain-based digital payment protocol designed for fast, low-cost international money transfers. Its native cryptocurrency, XRP, helps facilitate transactions between different currencies, making cross-border payments quicker and cheaper compared to traditional systems like SWIFT. Ripple sold-off recently and it made a huge spike lower due to the market manipulation, but these spikes usually act as a strong support. It still looks like a complex W-X-Y correction in wave IV on a daily chart, which can now resume the bullish trend within final wave V of (V). In the 4-hour chart, we can see a massive spike down, but out of wave (B) triangle pattern, so it’s a penultimate move into wave (C) of Y. With the current strong rebound and recovery, seems like bulls are back in the game, and it looks to be forming a bullish setup with waves 1 and 2. So watch out for further rally within wave 3 of a five-wave bullish cycle, especially if jumps back into 2.7 area and later above 3.10 bullish confirmation level.Ripple is still consolidating within wave 2, which can be a complex (W)(X)(Y) correction in wave 2. It can be now actually completed, as we see a nice rebound from the key 1.80 support area, so watch out for a bullish continuation within wave 3, just keep in mind that bullish confirmation is only above channel resistance line and 2.6 area.

We talked about the bottom formation on Dash back on August 11, where we mentioned and highlighted that it's recovering from June lows out of the downtrend channel, which suggested that the impulsive decline from the 2024 highs has ended. Dash is now in a massive rally, waking up strongly, so it's most likely in wave 3 of a five-wave bullish impulse that can extend the price even up to 70 area, we will just have to be aware of wave 4 pullback around 50-55 area. ALTseason can be here. Can other ALTcoins follow soon? Dash is a cryptocurrency launched in 2014 that focuses on fast, low-cost payments and privacy. It uses a two-tier network with miners and “masternodes” to enable features like InstantSend (near-instant transactions) and PrivateSend (optional privacy). It started as a fork of Bitcoin.

Ethereum has been rising sharply over the last two weeks after only a three-wave retracement from all-time highs, so it looks like a textbook fourth-wave pullback within an incomplete bullish structure that is now ready to resume. We’re seeing a break and push beyond the upper line of the corrective channel, suggesting price is stepping into wave five, so more upside can show up in the weeks ahead. Ideally, price could rise beyond 5000, possibly even toward 5336, where wave five could match the distance of wave two. When it comes to potential trading setups, it may be interesting to watch for intraday retracements, especially if we see one while the market still trades below wave three highs. Then, opportunities could show up around the 4350–4500 support area. GH

Microstrategy is a US business intelligence and software company, but it has become best known for its aggressive Bitcoin strategy. Under co-founder Michael Saylor, the company shifted from focusing mainly on software to also using Bitcoin as its primary treasury reserve asset. Since 2020, MicroStrategy has been steadily buying Bitcoin, often using debt or equity raises to finance purchases. Their strategy is based on the belief that Bitcoin is superior to holding cash, as it can act as a long-term store of value against inflation and currency debasement. From an Elliott wave perspective, we see Microstrategy nicely holding above trendline connected from the 2022 lows, so it's still unfolding a five-wave bullish impulse. Currently, it's consolidating within a bullish triangle pattern in wave (4), and once it's fully finished, we can expect another and maybe final push to the upside for wave (5) this year before a higher degree correction and bear market shows up next year. We also want to mention that even Bitcoin can be finishing a 3-year bullish cycle, which can end this year, but there's still some space for more gains along with the Microstrategy to complete the 5th wave of an impulse.