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On the H4 timeframe, Bitcoin has entered a technical correction after completing the fifth Elliott wave and facing rejection at the $74,000 resistance zone. Price is currently moving toward testing a key support area around $70,300–$70,700, while the imbalance zone at $72,000–$72,700 acts as the nearest supply. If this support is broken, an ABC corrective structure could drive price down to the $68,800–$69,200 area. Conversely, holding this support may allow Bitcoin to recover toward the $72,000 zone.
On the H4 timeframe, BTCUSD (Bitcoin) has recorded a corrective move after being rejected at the resistance zone around $74,000, while also completing a five-wave Elliott structure. This suggests that short-term bullish momentum is weakening, with the market entering a technical correction phase.
Bitcoin’s rejection around the $74,000 zone after completing the fifth Elliott wave signals a clear weakening in bullish momentum. In the short term, the market may continue to correct toward deeper support levels before establishing its next directional move.
The current pullback has left behind an imbalance (IMB) zone around $72,000–$72,700, acting as the nearest supply area. In the short term, price is moving toward testing a key support zone around $70,300–$70,700.
In the current scenario, if this support zone is broken, selling pressure may intensify, pushing price further down toward the $68,800–$69,200 area, thereby completing an ABC corrective structure on the H4 timeframe.
On the other hand, if price manages to hold this support and shows signs of momentum recovery, Bitcoin may resume its upward movement, aiming to retest the resistance zone around $72,000.
However, in a more bearish scenario, if price continues to decline below $68,800, the corrective structure could extend further, with the next downside target around $67,800–$68,000.
13.04.2026
BTCUSD
(Chart powered by TradingView. Charts are for educational and illustrative purposes only and may differ from live trading prices on our platform.)
Disclaimer: The chart reflects the analyst's opinion and does not constitute investment advice. Past performance is no guarantee of future returns. Seek independent advice before making decisions.
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Linh Tran
Market Analyst
Linh Tran is a member of the Market Analysis team at XS.com, holding a Master’s degree and with experience in the financial markets since 2018. She focuses on macroeconomic analysis, central bank policies, and multi-asset markets including forex, commodities, equities, and cryptocurrencies, delivering structured and data-driven market insights.
This written/visual material is comprised of personal opinions and ideas and may not reflect those of the Company. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. XS, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same. Our platform may not offer all the products or services mentioned.
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