empty
10.03.2025 12:51 PM
BTC/USD Analysis – March 10th

This image is no longer relevant

The 4-hour wave structure for BTC/USD is quite clear. After the completion of a five-wave bullish trend, the market has transitioned into a bearish corrective phase. Given this, I do not expect Bitcoin to rise above $110,000–$115,000 in the coming months.

The news cycle has fueled Bitcoin's growth in recent months, with continuous reports of institutional investments, government adoption, and pension fund allocations into the crypto market. However, Trump's policies have driven investors away, and no trend can remain bullish indefinitely.

The wave that began on January 20 does not resemble an impulsive wave. Instead, we are dealing with a complex corrective structure, which could last for months. The internal wave structure of this first corrective phase is highly complex and ambiguous. As a rule, wave structures should be as simple and clear as possible for effective trading.

Over the past few days, BTC/USD has dropped by $10,000. Even Trump's speech, which focused entirely on cryptocurrencies, Bitcoin reserves in the U.S., and the future of the crypto industry, failed to provide support.

Since Trump officially took office, the U.S. stock market, Bitcoin, and the U.S. dollar have all been falling. Typically, a decline in the dollar should lead to an increase in the value of dollar-denominated assets, including Bitcoin. However, Trump has achieved something unusual: both the dollar and Bitcoin are falling simultaneously, along with U.S. stock indices.

At this point, market participants are avoiding risk assets, as the future remains highly uncertain. While uncertainty is always present in financial markets, there are varying degrees of it. Trump is reshaping global policies, and no one knows the long-term consequences for the U.S. itself. Given this backdrop, investors are likely seeking safe-haven assets to navigate these volatile conditions.

This image is no longer relevant

Key Takeaways

Based on my BTC/USD analysis, I conclude that Bitcoin's uptrend is over for now. Everything currently points toward a complex, multi-month correction. I have previously advised against buying Bitcoin, and this recommendation remains unchanged.

A break below wave 4's low would confirm the transition into a downtrend, most likely of a corrective nature. For now, I see the best opportunities on the short side by analyzing lower timeframes. Bitcoin could fall to $76,000 (161.8% Fibonacci extension) and $68,000 (200.0% Fibonacci extension) in the coming weeks. Before expecting a new uptrend, I would like to see at least three clear and well-defined bearish waves.

On higher timeframes, a five-wave bullish structure is evident. At present, the market is forming either a corrective pullback or an extended bearish wave cycle.

Core Principles of My Analysis:

  1. Wave structures should be simple and clear. Complex patterns are difficult to trade and often change unpredictably.
  2. If there is uncertainty about market direction, it is better to stay out.
  3. There is never 100% certainty in price movement. Always use protective Stop Loss orders.
  4. Wave analysis can be combined with other forms of technical analysis and trading strategies.
Chin Zhao,
Analytical expert of InstaTrade
© 2007-2025
Earn on cryptocurrency rate changes with InstaTrade
Download MetaTrader 4 and open your first trade

Recommended Stories

Trading Recommendations for the Cryptocurrency Market on July 17

Bitcoin attempted several times yesterday to break above the 120,000 level but failed to succeed. Ethereum, on the other hand, completed its task and easily jumped from 3,100 to 3,300

Miroslaw Bawulski 09:05 2025-07-17 UTC+2

Some market makers fix profits

Meanwhile, as Bitcoin rebounded to the $119,000 level, some major players in the cryptocurrency market were quick to take profits after recent large price movements. Investment firm Ark Invest

Jakub Novak 13:22 2025-07-16 UTC+2

Trading Recommendations for the Cryptocurrency Market on July 16

Yesterday, Bitcoin experienced a modest correction but overall remained above the $117,000 mark, clearly indicating that its bullish prospects remain intact — it just needs a catalyst. Ethereum climbed back

Miroslaw Bawulski 09:51 2025-07-16 UTC+2

Bitcoin in limbo

Bitcoin buyers appear to be somewhat confused, as the FOMO currently dominating the market could backfire on those trying to jump on the "last train", — which, in reality

Jakub Novak 15:34 2025-07-15 UTC+2

Crypto week

While Bitcoin and Ethereum are undergoing a correction and doing so rather effectively, lawmakers and cryptocurrency advocates in the United States are preparing for one of the most important weeks

Jakub Novak 11:19 2025-07-15 UTC+2

Trading Recommendations for the Cryptocurrency Market on July 15

Bitcoin has dropped from its all-time high of $123,000 and is currently trading at $117,000, which only increases its appeal. Ethereum has also fallen back below the 3,000-dollar level, after

Miroslaw Bawulski 09:31 2025-07-15 UTC+2

Bitcoin outpaces Amazon in terms of market cap

Bitcoin has reached a new all-time high near $122,000, surpassing Amazon in market capitalization. This event is undoubtedly a landmark moment in the history of cryptocurrencies and traditional finance

Jakub Novak 10:52 2025-07-14 UTC+2

Trading Recommendations for the Cryptocurrency Market on July 14

Bitcoin hit another all-time high above $122,000, continuing its winning streak. Ethereum has also strengthened and is trading above $3,000, but has not yet reached the all-time high. Bitcoin's rally

Miroslaw Bawulski 09:53 2025-07-14 UTC+2

Bitcoin Forecast for July 14, 2025

Bitcoin Bitcoin is showing extreme boldness amid the general market sentiment of risk aversion. However, if such sentiment continues, the upper limit of Bitcoin's growth also becomes visible — 125,190

Laurie Bailey 05:31 2025-07-14 UTC+2

Litecoin is attempting to test its nearest resistance level, Friday, July 11, 2025.

Litecoin, Friday, July 11, 2025. Litecoin managed to break through and close above its pivot level. Although there is potential for a correction, positive fundamental factors provide an opportunity

Arief Makmur 08:00 2025-07-11 UTC+2
Can't speak right now?
Ask your question in the chat.
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.

We are sorry for any inconvenience caused by this message.