May 11, 2026

Bitcoin has a setup for a pullback to 40k

Bitcoin has a setup for a pullback to 40k

Bitcoin has a setup for a pullback to 40k

Bitcoin has a setup for a pullback to 40k

Bitcoin / U.S. dollar BITSTAMP:BTCUSD
CastAwayTrader


Bitcoin has a setup for a pullback to 40k

Bitcoin looks like a completed textbook Leading Diagonal structure.
We can count five waves each of them is subdivided into a-b-c but they are very overlapped.
That means the underlying bullish momentum has been weak.
Leading Diagonals normally get resolved with a strong and deep pullback that erase substantial part of the preceding rally
If you are long BTC or miners check your protective stops
If bulls manage to stop that upcoming move down in a corrective wave ( b ) in the Green Demand Zone and that drop has a clean a-b-c internal structure I would be a buyer to ride the next leg up in wave ( c ) up.

Previous Article

ETHUSD above the necklines of 3 very bullish patterns

Next Article

Measurable Data Token Goes Green (109% Potential Profits)

You might be interested in …

GALA long position ๐Ÿš€

GALA long position ๐Ÿš€

GALA long position ๐Ÿš€ GALA / TetherUS BINANCE:GALAUSDT MadWhale Based on the chart, the price has broken the black trend line to the upside and stick in the channel for a while near the green […]

What ACTUALLY moves markets

What ACTUALLY moves markets

What ACTUALLY moves markets Waves / TetherUS BINANCE:WAVESUSDT bowtrix This will be a fun one. It’s our entire market theory encapsulated into a single post, and the lessons learned are absolutely applicable to trading. Here […]

BCD Analysis

BCD Analysis

BCD Analysis Bitcoin Diamond/Bitcoin OKEX:BCDBTC Bixley This is an Analysis for Bitcoin Diamond on a Monthly timeframe including both the USD and BTC pairs On the left (USD pair) a test of the middle band […]