BTCUSD Bitcoin / TetherUSBINANCE:BTCUSDTiceage1741Deep Analysis of Bitcoin: BTCUSDT Hello, this is ChartInfo. Today, I’m going to provide an in-depth analysis of Bitcoin. BTC has currently pulled back from the $69k level that I mentioned in my previous post. After reaching an RSI overbought state and hitting a new high at $126k, the price declined. Following a period of consolidation, it hit RSI overbought again at the $97k level, broke its previous high, and then experienced another significant drop. Looking at this through the lens of Elliott Wave Theory, if the current point marks the end of Wave A, a rebound should naturally follow. However, in my opinion, it’s difficult to view the rise to $75k as the actual Wave B rebound for the decline from $126k. Despite the Nasdaq's current downward trend and geopolitical tensions such as war, Bitcoin has already undergone a 50% correction and is trading sideways in the $60k range without further major crashes. So, where should we enter a Long position to catch the Wave B rebound? I have considered three possibilities: 1. A slight sweep of the previous low followed by a Daily Bullish Divergence and an upward reversal (The scenario I find most likely). There are plenty of historical precedents for this. The reason I see this as the most probable scenario is that Bitcoin has firmly established itself as a global digital asset. If the previous low is swept, we can expect heavy spot buying from both institutions and retail investors. Since Bitcoin is now on many corporate balance sheets, I plan to go Long if this happens. I intend to start scaling in with low leverage starting from $60k. 2. A rebound from the long-term trendline while holding the previous low of $60k. Since Bitcoin has already undergone a sufficient correction, it would be ideal to see it consolidate near the lows to build up momentum before the next leg up. 3. Pushing for a new high followed by another major crash. However, in this case, the current chart is skewed towards a bearish structure. With various geopolitical issues at play, taking a Long position doesn't seem favorable here. I believe it would be better to look for Short entries once the price recovers sufficiently.