Bitcoin Elliott Wave update: Magical 100–102K zone or breakdown ahead?

In our last update on 19th May 2025, we highlighted the 100K–102K zone as a critical support level.

That zone held beautifully — twice, first triggering an explosive rally around 22nd May 2025, completing an unfinished Wave 5 and taking Bitcoin to a new all-time high of 112K USD.

This move wrapped up the larger degree bullish cycle that began from the 74–75K lows, where a leading diagonal had formed between 7th to 12th April 2025, taking Bitcoin up to 85K and setting the base for this historic run.

Drop from 112K – Another leading diagonal? (23rd May 2025)

On 23rd May 2025, after touching 112K, Bitcoin reversed sharply.

This wasn’t just a random fall — it formed yet another wedge, possibly a leading diagonal in a new Wave-A downside structure.

This fall from 112K:

• Formed a clean 5-wave wedge on the downside.
• Bottomed again in the magical 100–102K zone.
• Bounced sharply back to the 107K–108K zone, as of writing this update on 9th June 2025.

This bounce completed a classic retracement pattern of the wedge and showed how well the waves continue to unfold — Wave 4, Wave 5, and now the rebound — all captured live by WaveTalks.

Key levels to watch next

The 100–102K zone has been tested twice and proven reliable — but what comes next will be decisive.

 If Bitcoin holds above 100–102K, a sideways-to-up move toward 105K–107K is likely, keeping the correction complex and range-bound between 100K–108K.

 If 100–102K breaks, the next bounce zone lies at 92K–93K

 A sustained break below 92K–93K can open the gates to 86K–88K — a major support zone.

Conclusion

Bitcoin has respected the 100–102K zone twice already — fueling massive wave moves both times.

But now, we’re entering a crucial phase.

• A third test of this zone might either bounce once again, or finally break, marking the start of a deeper correction — possibly retracing a chunk of the rally from 75K to 112K.

The waves are whispering. Are you listening?