▶ Coinbase Website: Coinbase.com
▶ CEX Website: cex.io
Bitcoin is testing major resistance, but has the market actually formed a top already?
In this update, we break down the current Bitcoin Elliott Wave structure, why the rally still looks corrective, and what BTC would need to show to confirm a real bullish breakout. We also look at historical bear market drawdowns, Fibonacci retracement zones, on-chain indicators, and Bitcoin time cycles that could point to another major low later this year.
Timestamps:
00:00 Bitcoin still in a bearish corrective pattern
01:05 Why there is still no confirmed major low
02:00 Historical Bitcoin corrections and Fibonacci retracements
03:12 Why logarithmic charts can distort early-cycle pullbacks
04:20 Previous bear market drawdowns compared to today
05:15 Why the $38K–$39K zone remains relevant
06:43 Bitcoin time cycles and possible May/June top
08:05 MCO Terminal cycle tools and on-chain indicators
09:05 Why Bitcoin still lacks capitulation signals
10:15 What Bitcoin needs to do to turn bullish
11:35 Key resistance and support levels explained
12:35 Short-term Bitcoin outlook and weekend levels
13:26 MCO Terminal and Gold membership update
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▶ Coinbase Website: Coinbase.com
▶ CEX Website: cex.io
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