Bitcoin is expected to drop below $100k before rising to $135k+

BTCUSDT

- Rising wedge + double top: Price formed a rising wedge and a double-top — both are bearish reversal patterns. A decisive break of the wedge and double-top neckline raises the probability of a meaningful pullback. 🔺🔻
- Volume/momentum confirm: Rising wedge rallies often show weakening momentum and lower volume on advances. Watch for bearish divergence on RSI and higher selling volume on the break. 📉📉
- Elliott wave read: Wave 3 appears complete. The market is in an ABC correction for wave 4 (choppy corrective action). Wave 5 is still possible after wave 4 finishes. 🌊3➡️🔁➡️5️⃣

Completion of ABC structure — clear C-leg low. ✔️
- Price in a key Fibonacci retracement of wave 3 (0.382-102507/0.5-96477/0.618-90802/0.786-83294). 🎯
- Momentum divergence resolves and momentum turns bullish (RSI/stoch up). 📈
- Volume pattern shifts: selling volume dries up, buying volume returns on rallies. 📊
- Structure flip: higher highs and higher lows on daily closes. 🔁🏗️



September seasonality can be challenging for Bitcoin — this historically increases probability of deeper/longer corrections. 🍂
- Positivity: “end of the pain is near” fits the Elliott narrative — after wave 4 completes, distribution/accumulation can set the stage for a final wave 5 thrust. 🙌

This is technical analysis, not financial advice. Confirm pattern breaks on your own charts, watch volume and momentum, manage risk, and adapt to evolving price action.

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