Bitcoin Hits $90,808 as Elliott Wave (4) Correction Takes Shape

⬤ Bitcoin just touched $90,808, hitting the exact 138% extension target for Elliott Wave (3) that analysts had been watching. The 30-minute chart shows wave (3) wrapped up right at this level, and the price immediately started acting differently—exactly what you’d expect when one wave ends and another begins.

⬤ After reaching that $90,808 zone, Bitcoin lost steam and broke below the rising trendline that had been holding it up during the rally. Price pulled back toward $89,900 and is now hanging around that support area. It’s textbook Elliott Wave behavior—momentum dies down after an impulsive wave hits its target.

⬤ The resistance zones have shifted now that we’re potentially entering wave (4). Looking at the chart, resistance sits somewhere between $91,800 and $94,200, based on Fibonacci levels and recent price action. As one analyst noted, “The market may begin wave (4) either today or tomorrow, depending on how price reacts within this support area.” Wave (4) hasn’t confirmed yet, but the setup is clearly forming.

⬤ For crypto traders, these Elliott Wave transitions matter because they often bring changes in volatility and market rhythm. Bitcoin hitting its extension target and entering correction mode suggests we’re looking at a breather, not a trend flip. How BTC handles those resistance levels will tell us how deep and how long this wave (4) correction might run before the next move kicks in.