- Bitcoin is entering a Wave 2 relief bounce, targeting resistance zones at $118K–$122K without breaking the previous all-time high.
- The altcoin market cap chart confirms a breakout from a broadening wedge, signaling the start of a bullish impulsive Wave 2.
- XRP and CRO are showing bullish setups, with XRP nearing breakout confirmation and CRO exceeding past resistance above $0.32.
Bitcoin is currently in a corrective phase, with analysts observing a potential Wave 2 relief bounce before deeper downside pressure emerges. The broader altcoin market, however, is showing strong signs of continuation, with bullish structures in play.
Bitcoin Faces Resistance as Wave 2 Develops
According to CasiTrades, Bitcoin appears to have completed Wave 1 of a macro ABC correction from its all-time high. A local low near $108,000 aligned with the macro 0.118 retracement, increasing the probability that the initial leg of the correction is complete.
Wave 2 is now expected to unfold as a relief rally. The primary resistance zone lies near the 0.618 Fibonacci retracement around $118,463. Further resistance could appear near the 0.786–0.854 range between $121,000 and $122,000. The relief move must not exceed the all-time high, or the corrective count becomes invalid. Bitcoin currently trades near $108,226 after a recent 3.74% daily drop.
Price has consistently moved from accumulation to breakout, then consolidation again. The latest phase spans between $99,500 and $119,000. Bitcoin is currently testing support at the lower end of this range.
Altcoin Market Structure Mirrors Past Growth Phases
The altcoin market cap chart, excluding Bitcoin, matches historical cycles from 2014–2018. It has two impulsive waves separated by a mid-cycle correction that appear to be repeating in the 2018–2025 structure. The descending broadening wedge formed from 2021 to 2023 finally broke out in 2024, marking the start of a new bullish phase.
The altcoin market cap is currently near $1.55 trillion, with solid weekly bullish candles signaling growing upward momentum. The technical setup points to a second impulsive wave, closely following past macro patterns.
Altcoin Trends Strengthen Amid Bitcoin’s Recovery
XRP remains within a tightening consolidation pattern, with the apex around $2.99. A confirmed breakout above $3.08 with a backtest could validate a continuation move. RSI shows bullish momentum on the 4-hour chart.
$CRO has also shown strong upside, with a breakout above $0.32. Volume and momentum indicators confirm increased bullish activity since mid-2025. Resistance at $1 remains the psychological barrier.
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