Bitcoin (BTC) Price Exhibits Strong Recovery Momentum, Preparing for a Potential Upward Impulsive Move

Bitcoin is exhibiting strong recovery momentum after a consolidation phase. The 4-hour chart suggests a completion of a corrective wave, preparing BTC

Bitcoin price analysis reveals a strong bullish momentum after a consolidation phase. The 4-hour chart suggests the completion of a corrective wave, preparing BTC for a potential upward impulsive move. Meanwhile, the 1-hour chart indicates a developing five-wave structure, signaling the continuation of bullish momentum in the near term.

Bitcoin price is exhibiting a bullish trend on the 4-hour time frame. After peaking at around $106,328 in wave 3, the asset underwent an ABC corrective pullback, forming the wave 4 correction.

The wave count corresponds with a standard Elliott Wave model, where wave 4 has been confirmed through a downward ABC pattern, establishing a bottom at a crucial horizontal support zone.

This wave structure suggests that BTC is now entering the early phases of wave 5, which could drive prices higher. The Fibonacci retracement levels also support this analysis, indicating a potential wave 4 bottom at the 0.236 Fib level ($93,676).

Moreover, the breakout from the falling wedge pattern reinforces the shift in momentum, as BTC price has broken out of the descending resistance and is now attempting to continue its upward movement.

The Relative Strength Index (RSI) is recovering from oversold conditions, indicating that buying interest is resurging. However, BTC must maintain levels above $95,207 to solidify its breakout structure, ensuring that wave 5 remains valid.

If bullish momentum continues, a significant level to watch is $102,245, which aligns with prior price resistance. Should BTC break through this resistance, it could pave the way for a retest of the all-time high at $106,328.

On the 1-hour time frame, BTC appears to be in the initial stages of a five-wave impulsive sequence within wave 5. The structure implies that BTC has completed sub-wave (i) and is likely to face a minor corrective pullback for sub-wave (ii).

If the impulsive structure continues, BTC could move towards the previous peak of $102,245 as the next significant resistance area.

The Fibonacci retracement for sub-wave (ii) indicates support around $95,207, which is crucial for BTC to maintain its upward movement, as this would signify a successful retest of the broken descending resistance.

If this level holds, sub-wave (iii) could propel BTC towards $100,000, followed by a minor pullback in sub-wave (iv) before attempting to breach $102,245.

The RSI is gradually approaching overbought territory, which may signal short-term resistance ahead of further gains.

If BTC maintains its momentum, a complete five-wave structure could exceed $106,000, aligning with Fibonacci extension targets.

However, if BTC loses its momentum and falls below $93,676, this could invalidate the bullish scenario, potentially leading to a deeper correction.