BTC/USD | Price Still Consolidating, Determining Direction
On a macro level, the H4 structure remains within a Bullish Consolidation or Major Range-Bound pattern, with a local peak (Higher High) established around the 82,261.00 level. COINBASE:BTCUSD
The gradual decline from that peak was met with a liquidity sweep (a downward wick penetration) into the gray Demand Zone box (76,000.00 – 77,500.00).
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✅ Current Price Action:
At the 77,394.05 price level, the latest H4 candle shows a solid bullish rejection structure (pinbar).
Long lower wicks are visible on several preceding candles within the 76,200.00 – 76,500.00 range, confirming the presence of institutional buyers defending the floor and preventing a downside structural breakout.
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✅ Key Zones:
- ⚡Resistance / Supply Zone: 79,500.00 – 80,400.00 range (local SBR & HVN area) and 82,000.00 – 82,261.00 range (Major Supply Zone peak).
- ⚡Support / Demand Zone: 76,000.00 – 77,500.00 range (Major Demand Zone acting as a rebound defense) and 72,000.00 – 72,800.00 range (historical Demand).
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✅ Elliott Wave Analysis
Mapping the wave cycle movements on the H4 timeframe:
- ⚡Wave Structure: The vertical impulsive rally from the lower area to the 82,261.00 peak is calculated as an impulsive Wave 3 (or a macro Wave A). The gradual decline that swept the 76,200.00 floor is identified as the formation of Wave 4 (Corrective Wave), specifically an expanded flat or shallow pullback type.
- ⚡Current Status: A rebound—marked by a lower wick off the 76,500.00 demand floor toward 77,394.05—confirms that the Wave 4 correction is projected to be complete.
- ⚡Projection: Price action is projected to be entering the initial stage of the primary impulsive Wave 5 expansion, aiming to break through the 79,500.00 resistance level and target a test and breakout of the 82,261.00 peak.
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The primary bias for BTCUSD on the H4 timeframe—considering the overall structure and order flow—is BULLISH (Rebound Phase).
Future price movement is projected to CONTINUE RISING, targeting the Supply Zone/Resistance area between 79,500.00 and 80,400.00, with the potential for further acceleration toward 82,261.00.
TITradingView Ideas15 Sept
