BTCUSD – Mapping a Potential W-X-Y Into 30–40KBitcoin / U.S. dollarBITSTAMP:BTCUSDMrLiquidonFXThis chart looks at Bitcoin from a macro Elliott Wave / cycle perspective, treating each major bull run as a full 5-wave impulse (full wave cycle). 🔹 Macro Structure First full wave cycle – early bull market, completed 5-wave impulse, followed by a deep reset back to the long-term trendline. Second full wave cycle – larger 5-wave impulse, again fully retraced into the same rising blue support zone. Current (third) full wave cycle – another 5-wave advance is completing, with price pushing into new highs inside the large black box. The blue diagonal line connects the major cycle lows and acts as long-term structural support for Bitcoin. 🔹 Current Count & Scenario On the right side of the chart, the current bull cycle is labeled as a completed (or nearly completed) 5-wave impulse. After this, I’m projecting a large corrective structure in the form of W-X-Y: W: First leg down from the cycle peak X: Corrective rebound / partial recovery Y: Final leg lower, completing the correction The projected “Expected retracement area” sits roughly in the 30–40K zone, where: The long-term rising blue trendline comes in Prior Wave (4) of lower degree is located Key Fibonacci retracement levels of the entire third cycle are clustered This makes 30–40K a logical macro support / re-accumulation zone if a full corrective phase unfolds. 🔹 What I’m Watching Price action around the current highs to see if a confirmed reversal pattern starts the W-leg. Structure of the first drop from the top (impulsive vs corrective). Reaction if/when price approaches the 30–40K box and long-term trendline. This is a roadmap, not a certainty – the path in green is just one high-probability Elliott scenario based on how previous full wave cycles behaved.