Bitcoin (BTC/USDT) Elliott Wave Short SetupBitcoin / Tether Perpetual Linear Swap ContractBINANCE:BTCUSDT.PCakirInsightsBitcoin has completed a strong impulsive leg, with the third wave pushing sharply higher on strong volume. After this extension, the market is now showing early signs of exhaustion. 📈 Wave Count Wave (3) peaked with a strong vertical move. Price is now likely transitioning into wave (4), a corrective phase. If confirmed, a retracement toward lower support zones is expected. 🔻 Key Levels to Watch First correction target: 111,200 – 110,800 zone (supply turned support). Deeper correction target: around 109,800. These levels align with prior consolidation and Fibonacci retracements. 💡 Short Setup Traders can consider short entries if bearish confirmation appears. Watch for signals such as: Rejection wicks at the highs Engulfing bearish candles Momentum breakdown on lower timeframes Stop-loss: above recent peak (~112,200). Profit targets: 111,200 first, then 109,800 if pressure extends. ⚡ Alternative Scenario If buyers regain momentum, BTC could push for a final wave (5) extension before any larger correction. However, probability currently favors a pullback. ✅ Conclusion BTC/USDT is entering a potential corrective stage after completing its third impulsive wave. The 111,200 – 110,800 zone is the first area to test, while 109,800 stands as a deeper downside target. Short setups are valid with confirmation, but strict risk management is essential. 📊