BTCUSD Elliott Wave Structure Signals Potential Reversal SetupBitcoinCRYPTO:BTCUSDBitcoinprofitableThe BTCUSD 4H chart shows a clear Elliott Wave structure forming within a rising channel. Price action appears to have completed a complex corrective phase (A–B–C) followed by an impulsive move upward labeled W–X–Y, suggesting a larger corrective pattern rather than a full bullish continuation. The recent sharp rally into the upper channel resistance aligns with a potential Wave Y completion, where liquidity is typically taken before reversal. The rejection from the top trendline indicates exhaustion, supported by the steep bearish projection drawn on the chart. From a Smart Money perspective, this area likely represents a distribution zone where institutions offload positions. The lower trendline near 61,000–63,000 becomes a key downside target, aligning with the projected Wave (5) or continuation of the corrective cycle. Entry Strategy: Look for short entries near 78,000–80,000 resistance zone. Confirm with bearish signals (rejection wicks, lower timeframe break of structure). Conservative entry after minor pullback and continuation downward. Stop Loss: Place above recent high (around 81,000–82,000). Take Profit Targets: TP1: 72,000 (previous structure support) TP2: 68,000 (mid-channel support) TP3: 61,000–63,000 (major demand zone) Avoid early entries—wait for confirmation to reduce risk.