Following the formation of a significant low at $80,537 on November 21, 2025, Bitcoin has traded in a sideways-to-upward trajectory. The advance from this level is unfolding as a double three corrective structure under the Elliott Wave framework. Within this formation, wave (W) concluded at $94,172, followed by a pullback in wave (X), which ended at $84,398. The subsequent wave (Y) is currently in progress and is itself subdividing into a smaller-degree double three structure.
From the termination of wave (X), wave W of the lesser degree completed at $94,792. A corrective decline in wave X followed, bottoming at $89,190. The ongoing wave Y is developing as a zigzag structure labeled ((a))-((b))-((c)). Within this sequence, wave ((a)) is unfolding as an impulsive five-wave move. Specifically, wave (i) ended at $92,392, while wave (ii) retraced to $90,016. Wave (iii) extended higher and reached $97,939.
A pullback in wave (iv) is anticipated to correct the cycle from the January 12, 2026 low before the final push higher in wave (v) completes wave ((a)). In the near term, as long as the pivot at $89,222 remains intact, dips are expected to find support in 3, 7, or 11 swings, favoring further upside continuation.
