Bitcoin: Has The Sell-Off Started?

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Bitcoin has now broken below the bear flag channel, raising an important question: has the next major sell-off already started?
In this Bitcoin analysis, we take a detailed look at the current Elliott Wave structure, the recent breakdown, daily RSI conditions, and why the larger market structure still points toward a bear market environment.

While Bitcoin is now oversold on the daily timeframe and a short-term bounce remains possible, the key question is whether any rally would simply be another corrective move before further downside develops.

We'll discuss the critical support and resistance levels, the possibility of a wave B bounce toward the $75,000-$80,000 region, and why the larger bearish scenario remains valid unless the market can produce a clear impulsive recovery.

#Bitcoin #BTC #Crypto #ElliottWave

Timestamps:
00:00 Bitcoin breaks below the channel
01:02 Why the bear market thesis remains unchanged
02:30 The February rally was only corrective
04:00 Comparison with the 2022 bear market
05:15 Daily RSI enters oversold territory
06:55 Could a larger wave B bounce still happen?
08:45 Why the breakdown remains a warning sign
10:35 Bitcoin cycle analysis and downside pressure
12:30 Short-term chart: counting the 5-wave decline
14:10 Key support and resistance levels to watch
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