# BTC/USDT: Elliott Wave Analysis - Potential Further DownsideBITCOIN / TETHER PERPETUAL FUTURESWOONETWORK:BTCUSDT.PDENIZ_HAN_DEMIRCI**Overview:** This analysis of the BTC/USDT pair on a long-term timeframe (likely daily/weekly) utilizes Elliott Wave Theory to project future price movements. The chart suggests that a significant bullish impulse wave has completed, and the market is currently undergoing a corrective phase. **Elliott Wave Count:** 1. **Completed Impulse Wave:** The chart indicates the completion of a large 5-wave impulse structure, culminating in a peak around the 120,000 USDT level in early 2026. This move established a significant high for the asset. 2. **Ongoing ABC Correction:** Following the impulse, BTC/USDT appears to be in a corrective ABC pattern: * **Wave A:** This initial corrective leg saw a sharp decline, completing a 5-wave structure (labeled 1-2-3-4-5) and finding temporary support around the 55,000 USDT mark. * **Wave B:** A subsequent corrective bounce (labeled a-b-c) brought the price back up towards the 80,000 USDT region, likely retesting previous support as resistance. * **Wave C:** The market is currently in the midst of Wave C, which is typically a strong trending move that often consists of 5 sub-waves. The chart shows sub-waves 1 and 2 of Wave C as completed, with the price currently navigating through what appears to be sub-wave 3. **Key Support & Resistance Levels:** * **Current Price Action:** The price is currently trading around 59,983 USDT, hovering near a significant green support zone (approximately 55,000 - 60,000 USDT). The dashed white line at 52,151 USDT represents another critical level to watch. * **Resistance Zones:** Red horizontal bands indicate areas where selling pressure is expected to increase. * **Support Zones:** Green and blue horizontal bands denote potential areas where buying interest may emerge. **Projected Price Targets for Wave C:** Based on the ongoing Wave C structure, the analysis suggests further downside potential: * **Sub-wave 3 Target:** The completion of sub-wave 3 of C is projected to reach the green support zone around 45,000 - 48,000 USDT. * **Sub-wave 5 Target:** The ultimate target for the completion of Wave C (sub-wave 5) is anticipated to be within the blue support zone, approximately 30,000 - 35,000 USDT. **Conclusion:** The Elliott Wave count points towards a bearish continuation for BTC/USDT as Wave C unfolds. Traders should monitor the identified support levels closely for potential reactions. A break below the current support zone around 55,000 USDT would likely confirm the path towards the lower targets of 45,000 USDT and potentially 30,000 USDT. **Disclaimer:** This is not financial advice. Always conduct your own research and analysis before making any trading decisions.