Price action: BTCUSD is at 78,224.50, down 3.74% from the day open of 81,261.40. The displayed high is 81,882.05 and the low is 78,189.70; the chart shows a day range of 3,692.34 points. These are intraday figures and may change before the session closes.
Elliott Wave analysis: The October 28 report projected a blue wave iii decline toward approximately 77,700, with 79,253.95 as an intermediate downside reference. Price has since fallen through that reference, and today’s chart marks red circled ① at 76,307.05. The current projection allows a corrective rebound in red circled ② toward the 50.0% level at 79,094.55, followed by further downside. That recovery remains projected, and the chart’s marked invalidation level is 81,961.65.
Technical Summary
- Trend: Bearish; corrective rebound projected
- Current Elliott Wave: Red circled ① marked at 76,307.05; red circled ② projected
- Key Support / Further Downside: 76,307.05
- Projected Resistance: 79,094.55 (50.0%)
- Invalidation Level: 81,961.65
Q: Has BTCUSD reached the projected 50.0% rebound level?
A: No. Price is 78,224.50, below the 79,094.55 level.