The larger Wave ④

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Bitcoin 1H Chart Analysis

Currently tracking a light blue ABC correction within the larger Wave ④.

Wave C is unfolding as a 5-wave structure; currently in Wave ④.

Adjusted the wave count this morning: what was initially labeled as Wave ① is now considered Wave ③, due to its extended size.

Wave ③ appears to have completed near the 2.272 Fibonacci extension.

A divergence formed, leading to the current Wave ④ pullback, which is finding support at a key supply-demand zone.

Watch for a MACD oscillator crossover — this could signal the start of Wave ⑤.

Focus on reactions at the support zone for trade decisions.

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