Bitcoin (BTCUSDT) — H1 Formation of a Potential Wave 3Bitcoin / TetherUSBINANCE:BTCUSDTNewOneCryptoBitcoin (BTCUSDT) — H1 Formation of a Potential Wave 3 + Trendline Break (Bearish Continuation) 🔎 Market Structure (H1) On the H1 timeframe, BTC has formed the technical conditions for the development of a potential Wave 3 to the downside, confirmed by: a breakout below the corrective trendline (structure shift) completion of the pullback phase (Wave 2) after the initial bearish leg rejection from the local resistance zone near the recent top loss of short-term bullish structure and transition back into selling pressure This setup fits a classic Elliott Wave continuation model, where Wave 3 often accelerates once price exits a corrective structure and resumes the dominant direction. 📐 Elliott Wave Context Wave 1: initial impulsive move down (trend initiation) Wave 2: corrective retracement back into resistance Wave 3: expected impulsive expansion lower (current scenario) 📌 Key principle: The bearish scenario remains valid as long as price stays below the high of Wave 1. 📍 Entry Entry: 72,299.73 The entry is positioned: below the broken trendline (breakdown confirmation zone) inside the impulse activation area after correction completion aligned with continuation momentum rather than a reversal attempt 🎯 Target Levels (Wave 3 Projections) Targets are derived from projected impulse expansion zones and key reaction levels: TP1: 70,108.11 TP2: 68,048.24 TP3: 66,091.21 TP4: 62,497.05 Each target represents a potential reaction zone and a logical partial profit-taking level during Wave 3 development. 🛑 Invalidation / Stop Loss Stop Loss: 74,133.60 📍 The stop is placed above the high of Wave 1, which: invalidates the Wave 3 bearish scenario if breached protects against a shift into an alternative bullish structure follows Elliott Wave risk logic (stop beyond the key swing) 🧠 Risk & Trade Management Trend-following setup Wave 3 can be fast and volatile once acceleration starts. Recommended approach: partial profits at TP1 / TP2 move stop to breakeven after a clean impulsive continuation is confirmed avoid adding early — scale only on intrawave pullbacks within Wave 3 confirmation improves if price continues to hold below the broken trendline and prints strong bearish H1 closes 📌 Summary BTCUSDT on H1 shows a corrective trendline breakdown and signs of Wave 2 completion, supporting the start of a potential Wave 3 to the downside. The bearish scenario remains valid below 74,133.60, with downside targets at 70,108.11 → 68,048.24 → 66,091.21 → 62,497.05.