BTCUSD Elliott Wave Setup: Wave (4) Retracement Before Wave (5) Bitcoin / U.S. dollarBITSTAMP:BTCUSDhandi45BTCUSD is currently showing a potential bullish Elliott Wave impulse structure on the Daily timeframe. After a strong expansion into Wave (3), price is now consolidating around the $77K–$80K area. My primary scenario is that BTC may still need to complete a Wave (4) corrective retracement before continuing higher into Wave (5). Key Wave (4) retracement area: 38.2% Fibonacci: $74,125 Key level: $73,200 50% Fibonacci: $71,843 This $71.8K–$74.1K zone is my main Buy on Retrace area. I will be watching for bullish confirmation and a completed corrective structure before considering continuation entries. If Wave (4) completes within this zone and the bullish impulse remains intact, the next objective is Wave (5). Wave (5) Target / PRZ: $87,798 – $89,302 The idea is not to chase BTC at the current price, but to wait for a potential Wave (4) pullback and look for a better risk-to-reward opportunity before the projected final impulsive move higher. Bias: Bullish after Wave (4) correction Buy Zone: $71,843 – $74,125 Wave (5) Target: $87,798 – $89,302 Timeframe: 1D This analysis is based on Elliott Wave structure, Fibonacci retracement, and the current bullish market structure.