Bitcoin Price | Bear Market Below $39,000

In this video I break down the latest Bitcoin price action to determine whether we are witnessing the start of a wave 2 bounce or if the market remains trapped in a larger bearish structure. I examine the current wave counts on the smaller time frames, identifying key support and resistance zones that will dictate the trend for the remainder of the week and early next week. By analyzing Bitcoin through the lens of Elliott Wave theory, I explain why the recent bounce remains questionable and highlight why caution is required when evaluating short term recovery attempts. We look at critical levels that act as boundaries for the current price action, including the 200 day moving average, and discuss why the overall macro outlook suggests further downside remains a primary scenario. Whether you are monitoring support levels or looking for clarity on the current Bitcoin structure, this analysis provides a clear roadmap of the potential scenarios ahead. I map out exactly where the trend could shift and what levels need to hold to keep different wave count hypotheses valid. Timestamps: 0:00 - Bitcoin Market Outlook 1:00 - Key Resistance Zones 3:30 - Bearish Wave Scenarios 5:00 - Short Term Microstructure 7:00 - Validating Wave Counts ----------------------------------------------------------------------------------------- 🧿 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