BTCUSD 1H Elliott Wave Bearish Reversal Setup AnalysisBitcoinCRYPTO:BTCUSDBitcoinprofitableThe chart shows a completed impulsive structure to the upside, labeled from wave (1) through (5), followed by a corrective phase marked as (A)-(B)-(C). Price has likely finalized wave (C) near the recent high around the 76,700 area, which also aligns with the termination of a smaller degree wave 5. This confluence suggests exhaustion of bullish momentum. After completing the impulse, the projected path indicates a strong bearish move forming a new five-wave decline. The initial drop represents wave (1), followed by a corrective bounce for wave (2). The market is expected to continue downward into waves (3), (4), and (5), with wave (3) typically being the strongest and most extended. Momentum and structure both support a short-term bearish bias. Lower highs forming after the peak reinforce the idea of trend reversal. If price fails to break above the recent high, sellers remain in control. Entry Points: Short entry: 76,200 – 76,700 resistance zone Conservative entry: After confirmation of lower high on lower timeframe Exit Points: Take profit 1: 74,600 (wave 3 target zone) Take profit 2: 74,200 (wave 5 completion) Stop Loss: Above 76,900 (invalidates wave count) This setup favors short positions with structured risk management.