Bitcoin Price Action | 5-Wave Decline & Support Levels

In this video I break down the latest Bitcoin price action and what the recent drop means for the coming weeks. I analyze the current market structure using Elliott Wave principles to determine if the decline from the June high is reaching completion and how we are approaching major support levels. I explore the significance of the 200-week moving average and how this breakdown compares to historical bear market cycles. You will learn about the seasonality trends we typically see in July and why this period often presents specific opportunities for those tracking the late innings of a bear market. I also cover the micro structures, resistance levels, and the key pivots required to signal a potential local bottom. Whether you are watching the 55K support zone or looking for confirmation of a three-wave bounce, this analysis provides a clear look at the current bearish landscape and what the data suggests for Q3. Subscribe to stay updated on my daily market outlooks and technical setups. Timestamps: 0:00 - Current Market Pressure 1:18 - Elliott Wave Structure 2:13 - Key Support Levels 4:08 - Bear Market Comparisons 5:48 - 200-Week Average Analysis 8:22 - Q3 Outlook Strategy 9:38 - Short Term Price Action ----------------------------------------------------------------------------------------- 🧿 MCO Global: 💻 https://www.mcoglobal.com/ ✉️ Join the FREE Newsletter: 👉 https://mcoglobal.com/newsletter/ 🧿 Join the More Crypto Online Community: 👉 https://www.mcoglobal.com/memberships OR 👉 https://www.youtube.com/channel/UCngIhBkikUe6e7tZTjpKK7Q/join OR 👉 https://www.patreon.com/morecryptoonline 🧿 Join the MCO Stocks & S&P500 Community: 👉 https://www.patreon.com/moretradingonline ----------------------------------------------------------------------------------------- 🧿 Social Media: 👉 X / Twitter: https://x.com/Morecryptoonl 👉 Instagram: https://www.instagram.com/morecryptoonline_official/ 🔗 All Links: https://linktr.ee/morecryptoonline ✉️ Co