B for Bitcoin: Will it cry in wave-C?

In our 19th May 2025 update, we warned that while Bitcoin was holding firm near 107K, the 100–102K zone remained the magical support to watch. And what a ride it's been since then!

That zone held beautifully, triggering a powerful rally to a new all-time high of 112K USD.

But we also cautioned: “We’re still counting cautiously.”

What unfolded after 19th May 2025?

From the 112K high, Bitcoin traced out a classic 5-wave decline, dipping right back into the 100–102K support zone.

Once again, this magical zone did its job — producing a sharp 3-wave bounce back up to the 109–110K USD region, where Bitcoin trades currently as of 10th June 2025.

Why 109–110K USD?

This zone marks an 88.6% retracement of the prior 5-wave decline (or Wave-A), a textbook Wave-B behavior in Elliott Wave terms.

Wave structure in focus

Let’s simplify the count:

• The 5-wave fall from 112K = likely Wave A (down).
• The current 3-wave bounce = likely Wave B (up).
  → Retraced ~88.6%, a Fibonacci hallmark.
• What’s next? A possible Wave C (down) — and this is where things get interesting.

Chart snapshot as of 10th June 2025

What to watch next

The 109–110K zone is acting as strong resistance, and likely marks the top of Wave B.

As long as 110K holds, we may now be entering:

Wave C Down

• First support: 100–102K (for a third time!).
• If broken, watch for a fall toward 90–92K USD.

Note: This would be the third test of the 100–102K support — and as the saying goes, third tests often break.

Conclusion

Bitcoin is once again at a critical turning point.

If the 110K resistance holds, we may soon witness Wave-C unfold, potentially triggering a deeper correction in the powerful rally that began at 74–75K.

A third visit to the 100–102K zone could either result in another bounce or lead to a decisive breakdown, opening the path for a deeper retracement of the 75K–112K move.

The waves are whispering. Are you listening?

WaveTalks – Market Whispers! Can You Hear Them?

Some of these wave formations were captured in real-time by WaveTalks — especially the Type-1 leading diagonal, a structure I still remember from a tricky question in my final CMT exam over a decade ago. A perfect real-world case study in Elliott Wave application.

These patterns are now archived and will be featured in future copyrighted WaveTalks projects.

Catch me soon with another market idea from WaveTalks.

Until then — keep listening to what the market whispers...

Leading diagonal formation as visualised on 31st May 2025

Wave 4 of the Leading Diagonal Structure Completed on 3rd June 2025 - What we expected next was Wave 5 Downside & Bounce Upside - This Upside Bounce is where we are current as on 10th June 2025.

 

Drop in Wave 5 of the structure as on 6th June 2025.

Go Back to the top of the Update - We are here currently as on 10th June 2025.