Bitcoin Faces a Five-Wave Reckoning at 85,132, but 100K Is Still in Play

TL;DR: Bitcoin may have completed a five-wave advance at 87,354, with 85,131.78 the pivot that decides whether the correction starts—but a pullback toward the 75,000–76,000 base could leave the broader rise intact and keep 100,000 in play.

Bitcoin’s Rally Hits Its First Serious Momentum Test

Bitcoin may have completed a five-wave advance at 87,354, and the first signs of a deeper correction are now appearing. But the same charts warning of near-term weakness also suggest a retreat toward 75,000–76,000 could leave the broader recovery intact and potentially build the base for another run toward 100,000 later in the year.

Bitcoin was trading around 82,950 in the latest intraday snapshot, down close to 2% on the day after retreating from the 87,354.33 high. The short-term chart has deteriorated noticeably. Price has slipped below the four-hour 55 EMA near 83,287, while MACD has rolled over and RSI has fallen toward the high-30s.

The more important warning comes from momentum. Bitcoin made a higher price high at 87,354.33 compared with the earlier wave-three peak at 82,224.57, but both four-hour and daily MACD failed to confirm that new high. That bearish divergence doesn’t by itself establish the rally is over, but it makes the latest high a credible candidate for wave-five completion.