$BTC 8.1 Bitcoin price today: Since Bitcoin retraced from the peak of 123,300, it has been oscillating in an extremely narrow range for about 18 days, and this oscillation has basically been within a margin of 5%. The next trend, which can now be confirmed, is a converging triangle structure, this structure belongs to wave X, used to connect the previous and subsequent sawtooth patterns.

Currently, the entire triangle has completed the four stages A, B, C, and D, and is now in the final phase of the wave E retracement. The wave E bounce is expected to complete today during the day, reaching approximately 117,000. Once wave E is completed, the entire structure of wave X will also be considered finalized, and it will then enter the key descending phase of wave Y, which is the exit phase of the main decline.
In summary, over time, the consolidation structure has become increasingly clear. Currently, the 1-hour movement is confirmed as the wxy wave, with wave x in a triangular structure, which is currently in its final phase. It is expected that today during the day, after a bounce in wave e of the triangle, the exit phase of wave Y will begin.