Charts Warn Bitcoin May Be Entering Final Selloff (Wave 5 Risk)
Bitcoin is showing renewed weakness across weekly and four-hour charts, signaling a potential final leg lower. Weekly analysis (shared by Titan of Crypto) shows BTC/USDT rejected at a key market-structure zone near the mid-$70,000 level — a former support now acting as resistance — suggesting bearish momentum until price reclaims that area. Shorter-term Elliott Wave analysis (Matthew Dixon) on the four-hour BTC/USD chart indicates a completed wave 4 corrective bounce and the start of a potential wave 5 decline, which could decompose into five smaller waves. Momentum indicators such as RSI are cooling after the rebound, reinforcing the case that the recent rise was corrective rather than trend-confirming. Traders should watch whether price can reclaim the broken structure near mid-$70k; failure to do so raises the risk of further downside and a multi-leg selloff. Primary keywords: Bitcoin, BTC price, selloff, Elliott Wave. Secondary keywords: market structure, resistance, wave 5, RSI, mid $70,000.
Bearish
The chart evidence presented is structurally bearish on both weekly and short-term timeframes. The weekly rejection at a major horizontal level (mid-$70k) converts prior support into resistance — a classical sign that bulls have lost control until that level is reclaimed. The Elliott Wave read that wave 4 is complete and wave 5 may be starting implies additional downside is likely, typically unfolding in five sub-waves and often accelerating selling. Momentum (RSI) cooling after the bounce further weakens the case for a sustained upside breakout. Historically, when Bitcoin loses key market structure and follows with a wave-5 style decline (e.g., prior cycle comparisons noted), declines can extend and experience increased volatility and volume on the way down. Short-term impact: higher downside risk, range extension lower, and shorting/arbitrage activity could increase; traders should monitor internal wave counts for exhaustion signs and use tight risk management. Medium-to-long-term impact: if the structure remains broken for multiple weekly closes, sentiment can shift to extended consolidation or deeper correction before a durable recovery; however, a clear reclaim of the mid-$70k level would quickly reduce bearish pressure and could signal trend resumption. Key levels, stop placements, and observing whether wave 5 subdivides and shows exhaustion will be critical for trade planning.