Wave ④ is unfolding as an internal ABC corrective bounce.

Bitcoin Daily Chart Analysis

Currently in progress: a 5-wave structure within the larger Wave B–C decline.

Wave ③ appears to have completed near the 1.618 Fibonacci extension.

After exiting RSI oversold territory, a rebound followed.

Wave ④ is unfolding as an internal ABC corrective bounce.

Wave C of ④ is currently in progress, facing resistance at the 60-day EMA, leading to a mild pullback.