Elliott wave analysis of the market for October 29, 2026 BTCUSD
BTCUSD: FLAT.
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The Bitcoin situation continues to follow the previously analyzed wave scenario.
The price rose slightly, but sellers immediately reacted by actively pushing the price down, which caused the rate to return to its starting point for this rise.
However, it is unlikely that this marks the beginning of the final wave c of (y) of the assumed double zigzag. Most likely, we will see one more weak attempt to rise, after which the expected longer decline will occur.
Thus, there is no need to rush into opening short positions at this time. It is better to spend today's trading day observing price behavior.
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