BTC Chart Signals Wave 4 Flat or Triangle as Price Hovers Near $78K

Bitcoin hovers near $78K after a 3-wave drop from Friday’s high. A wave 4 flat or triangle may be forming, per More Crypto Online’s latest chart read.

The 15-minute chart didn’t exactly scream panic. But something was clearly setting up.

Bitcoin drifted back into a familiar support cluster over the weekend, printing what looks like a textbook 3-wave decline off Friday’s session high. The kind of move that doesn’t feel like much until it starts getting counted.

The Three Waves Nobody Noticed Until They Did

More Crypto Online, on X, put it plainly. The price formed a 3-wave decline from the Friday high and tested the support zone. From there, the read shifted toward something potentially larger.

Per the chart shared by More Crypto Online on X, the micro support zone sits unchanged. What changes is the scope of what could follow.

The analyst suggested a wider wave 4 flat correction may unfold. Or a triangle. The weekend timing, he noted, was consistent with that kind of slow, grinding sideways structure rather than a clean directional push.

Fibonacci levels on the 15-minute BTCUSD chart place the 23.60% retracement at $78,070, with the 38.20% zone below at $77,533. The 50% level sits at $77,102. Price was trading just above $78,353 at the time of the chart print.

Wave 4 corrections are notoriously messy. A flat involves three sub-waves that roughly retrace and then recover the prior move. A triangle takes longer, compresses the range, and usually breaks in the direction of the prior trend, which here would be up toward the projected wave 5 target. That target, visible on the chart, sits near $82,000 and potentially toward $83,000 at the labeled wave 5 and C completion zone.

Why the Support Zone Still Matters

Not everyone has been patient at these levels. Bitcoin’s $78K zone has now been tested twice as resistance, with sellers active near $78,000 to $78,500, while SuperTrend support holds at $77,700. The structure is tight. A break above $79,000 clears the near-term short liquidation wall.

The chart from More Crypto Online maps an Elliott Wave count across multiple degrees. The broader view shows a wave C structure targeting the $83,000 region, part of a larger corrective cycle labeled with an (A)(B)(C) sequence in orange. Wave (B) formed the recent base. The current rally is wave (C), and wave 4 is simply a rest stop along the way.

What gets traders’ attention is how the wave 5 of (C) completes. The orange label positions that target above $82,000. Getting there requires surviving the flat or triangle currently forming.

Over the past week, Bitcoin has been hovering in a narrow band near $77,000, with analysts flagging the weekly close as structurally weak. The corrective setup More Crypto Online described fits that read.

There’s a yellow trend line on the chart running diagonally from the lower left, acting as a long-term support reference. Price has remained well above it. The current wave 4 zone overlaps with the Fibonacci cluster, which is exactly where wave 4 corrections tend to find footing before the final push.

Whether the flat or triangle interpretation plays out correctly depends on how price behaves at the 38.20% level. If buyers show up at $77,533, the triangle thesis gets more traction. A sharper move through $77,100 would raise questions about the wave count entirely.

For now, the chart reads as a pause. Not a reversal. Just a market trying to figure out whether the weekend was a rest or the beginning of something else.

Disclaimer: This article is based purely on technical analysis from cited sources and is intended as news coverage only. It does not constitute financial or investment advice. Always conduct your own research before making any trading decisions.

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