BTC - 1H Elliott Wave Analysis - 23.08.25Bitcoin / TetherUS PERPETUAL CONTRACTBINANCE:BTCUSDT.PKanashimiBroGreetings, we did briefly break the 112k level which was followed by a bounce yesterday. We assume the move down from the ATH was only the Wave A of a bigger correction displayed as yellow ABC. The resistance area of the B Wave lies between the 0.382 FIB at 116397 USD and the 0.886 FIB at 123000 USD. The bounce from around 111600 USD is counted as Wave A or 1 and now we are working on the Wave B or 2. The support area lies between the 0.382 FIB at 115084 USD and the 0.886 FIB at 112263 USD. If this is a Wave 2 we preferably stay above the 0.786 FIB at 112817 USD. If it is a Wave B it could go bit lower. We also have some further support right below the last low at around 111500 to 110500 but we deem it more likely to see a bounce earlier. Remember that we have a bigger support area below that goes down to around 103k. In both cases as deem a retracement into the support area and a move up in either the Wave 3 or C as most probable. At the moment we can't determine which count it is but after the next move up we would want to see a Wave 4 and 5 in the impulsive count or alternatively the break of this Wave 4 support area would shift probabilities even more towards the yellow ABC which we already think is more likely. Thanks for reading. NO FINANCIAL ADVICE.