BTCUSDT – Ending Diagonal Nearing Completion? Critical Decision Point Ahead

📉 Asset:

Bitcoin / TetherUS (BTCUSDT)

🎯 Expected Move:

Bearish Reversal Scenario Building

✅ Target Area:

$98,000–99,000 retest zone

📍Current Situation:

Price is testing the top boundary of a potential ending diagonal pattern, following a clear ABC structure. The fifth subwave (5) appears nearly complete, with signs of exhaustion near the upper trendline.

🔎 Replay & Chart Link:

🧠 Analysis Summary:

Bitcoin has completed a textbook ABC correction within an expanding channel, with wave C itself forming a five-wave structure. The current structure suggests a potential fake breakout (wave 5) or a sharp reversal as the pattern matures. Two large blue arrows on the chart illustrate possible trajectories:

• A final thrust above the channel (bull trap)
• A breakdown toward $98K support (wave B zone)

With volume not supporting a sustainable rally and the price nearing a structurally significant upper boundary, downside risk is increasing. A decisive break below the channel support would confirm a reversal and validate the bearish target zone.

📈 Result Outlook:

Watch closely for a rejection at the upper diagonal boundary. A breakdown below $107K may trigger a deeper correction. Bulls must reclaim higher highs quickly to invalidate the bearish scenario.