BTCUSD 1H Elliott Wave Bearish Correction SetupBitcoinCRYPTO:BTCUSDBitcoinprofitableThe BTC/USD 1H chart shows a completed bullish impulse followed by a developing bearish Elliott Wave structure. After forming a local top near the 76,000–77,000 zone, price begins a corrective phase, likely initiating a five-wave impulse downward. Wave (1) appears to have formed with a sharp rejection, followed by a corrective Wave (2) pullback toward resistance. The projected movement suggests a strong Wave (3) decline, typically the most impulsive and extended wave, targeting lower liquidity zones around 71,500–72,000. Following this, a temporary Wave (4) retracement may occur, offering another lower-high opportunity before Wave (5) completes the bearish cycle near the 70,000 psychological level. The structure aligns with a broader correction after an extended bullish run, indicating weakening momentum and potential distribution. Volume and rejection wicks near the top reinforce bearish sentiment. If price fails to break above the Wave (2) high, downside continuation remains the higher-probability scenario. Entry & Exit Points: Sell Entry: Near Wave (2) retracement zone (76,000–76,800) Stop Loss: Above recent high (around 77,500) Take Profit 1: 72,000 (Wave 3 target) Take Profit 2: 70,000 (Wave 5 completion) Optional Re-entry: After Wave (4) correction for final push down This setup favors short positions with confirmation signals.