BTC | Consolidating Below the $83K BreakoutBitcoin / TetherUSBINANCE:BTCUSDTmaratteoThesis: The thesis from my previous BTC Idea has not materially changed. I continue to see the macro Wave 2 support as confirmed, with price now consolidating directly below the next important breakout level. After the strong rebound from the Buy Zone three weeks ago, BTC has spent the last few weeks consolidating around the 50 WMA. For me, this is constructive price action. What Matters Now: - The 50 WMA remains the key trend level - Price is consolidating directly around it after the recent impulsive move - The previous resistance area around $83,000 sits immediately above - A clean breakout above $83,000 would therefore break both the moving average resistance and the previous price resistance at the same time That is the confirmation I am waiting for. Targets: If $83,000 breaks and flips to support, the first major objective is a return toward the previous ATH around $125,000. In my current macro Elliott Wave count, I continue to see this as the beginning of a much larger structure. - Macro Wave 3 target: approximately $230,000-$235,000 - Primary long term target: approximately $340,000-$350,000 Those are long term structural targets and will obviously depend on the wave count continuing to develop as expected. Positioning: My resting orders inside the Buy Zone remain in place in case price gives us another pullback. Every day that passes makes me think those orders are becoming less likely to fill, but I am comfortable with that because I already accumulated the position I wanted inside the Buy Zone. For now, $83,000 is the level I am watching.