Bitcoin’s weekly chart is at a pivotal point, with price action hovering around key structural levels. Traders are now questioning whether the current move marks the start of a deeper correction or just a healthy consolidation before the next leg up. Elliott Wave Signals Align With Developing Correction Elliott Waves Academy, in its latest analysis tracking Bitcoin’s expected wave path on the weekly timeframe, has raised a key question: has the corrective wave begun? The recent market structure indicates that the bullish leg has likely completed, and the price may now be transitioning into a corrective phase. A critical support level of the prior upward wave has been broken, hinting at a potential wave reversal in progress
source: https://www.newsbtc.com/news/bitcoin/bitcoin-corrective-wave-in-play-2/