Pullback Keeps $90K Elliott Wave Scenario Alive: Bitcoin Price Analysis – September 3

Bitcoin price analysis notes that BTC surged to $81,330 on August 28 after holding above the prior $64,402 level. In a September 2 analysis, FX Empire's Dr. Arnout Ter Schure characterized the subsequent pullback as corrective rather than the start of a trend reversal, which traders will be hoping proves right if a move toward $90,000 is to happen.

The analysis identifies $72,994 as a key Bitcoin support level for its bullish Elliott Wave case. A sustained break below that level, FX Empire said, would weaken the fifth-wave setup and raise the risk that the rally from the August low has already completed.

FX Empire's live price display showed Bitcoin trading at $77,867.11, up 0.44% at the time of publication. That figure is a point-in-time reference rather than a current market quote.

The central question in the forecast is whether the decline from $81,330 represents a fourth-wave pause before another advance or whether the rally has already completed.

What the Elliott Wave Setup Actually Means for Current Bitcoin Price Analysis

FX Empire is tracking five smaller waves, labeled I, II, III, IV, and V, within a larger structure it calls green wave 1. Its framework places the ideal completion zone near $90,000, plus or minus $5,000.