BTC Just Finished 5 Waves Up. Is a Dip to $76K Next Before $90K?

 Elliott Wave analyst MoreCryptoOnline flags a completed 5-wave BTC impulse from $75,300. A wave (2) pullback to $76,020 could precede a $85K-$90K surge.

Bitcoin’s short-term chart is telling a specific story. The kind traders either act on fast or spend three paragraphs explaining later why they missed it.

MoreCryptoOnline, posting on X, flagged a completed five-wave impulsive advance on the 15-minute chart. The move started from last week’s low near $75,300. According to MoreCryptoOnline on X, the structure is labeled as wave (1) of a larger degree, and the analyst says no confirmed top has printed yet, but the count reads like one is close.

Source: Morecryptoonl 

The Number That Has Bulls Watching Closely

The same analyst had a different read just days before. In a May 3 post, MoreCryptoOnline tweeted that Bitcoin might have printed a fifth wave to the upside, but that the move could also be a high B-wave. Weekend moves do that. They look impulsive until they don’t.

Bitcoin was hovering in the upper $78,000 to low $80,000 range when the updated chart dropped.

The updated analysis dropped the B-wave scenario. What came instead was confirmation of a clean five-wave impulse, internal sub-waves labeled 1 through 5. The Elliott Wave count on BTC has been a focus for short-term traders since price bounced off multi-week lows.

Per the X post, if wave (2) starts from current levels, it needs to hold above $76,020. That is the 78.6% Fibonacci retracement of the wave (1) advance. Breaking below it would invalidate the count entirely.

Four Levels. One Line That Matters.

The analyst mapped out four retracement zones a wave (2) correction could test. The 38.2% level sits at $78,093. The halfway point at $77,482. The 61.8% level at $76,876. Then the deep end: $76,020.

That last one is not just another support zone. It is the floor of the whole thesis.

Three of those four levels could get tested and the bullish count survives. Bitcoin’s $76,200 area has been a closely watched line for days, with traders tracking whether sellers return or buyers absorb. The confluence is not lost on short-term wave counters.

A pullback into that zone, MoreCryptoOnline noted, would be constructive for bulls, not damaging. Wave (2) corrections exist to reset conditions before wave (3) does the heavy lifting.

Where Wave (3) Could Take This

The target, if the count holds, sits between $85,000 and $90,000. That is where a standard wave (3) advance projects given the length of wave (1).

The analyst said the plan remains unchanged. No reassessment. No hedging the range further.

The structure needs more data before exact levels get confirmed, MoreCryptoOnline added on X. That is the honest version of every wave count in progress. Two possible reads, one preferred, and a single number that decides which one survives.

$76,020. That is the line.

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